Celestica (NYSE:CLS) Shares Gap Up on Analyst Upgrade

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS gapped up prior to trading on Tuesday after Barclays raised their price target on the stock from $91.00 to $139.00. The stock had previously closed at $87.36, but opened at $91.65. Barclays currently has an overweight rating on the stock. Celestica shares last traded at $91.17, with a volume of 2,142,439 shares.

A number of other research firms have also recently weighed in on CLS. TD Cowen increased their price target on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. TD Securities increased their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday. BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada boosted their target price on Celestica from $75.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Celestica has an average rating of "Moderate Buy" and a consensus target price of $89.18.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors lifted its stake in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. R Squared Ltd purchased a new stake in Celestica during the 4th quarter worth approximately $51,000. Financial Management Professionals Inc. acquired a new position in shares of Celestica in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. purchased a new position in shares of Celestica during the 3rd quarter valued at approximately $34,000. Finally, Private Trust Co. NA grew its position in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock worth $44,000 after buying an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Trading Up 13.5 %

The firm has a market cap of $13.28 billion, a P/E ratio of 36.22 and a beta of 2.25. The business's 50 day moving average is $97.35 and its 200-day moving average is $71.46. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.