CIBC Upgrades Celestica (NYSE:CLS) to "Sector Outperform"

Celestica (NYSE:CLS - Get Free Report) TSE: CLS was upgraded by research analysts at CIBC from a "neutral" rating to a "sector outperform" rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $150.00 price objective on the technology company's stock. CIBC's price objective points to a potential upside of 22.47% from the stock's previous close.

A number of other equities research analysts also recently weighed in on CLS. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on Celestica from $70.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. TD Cowen increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their price target on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.64.

Celestica Price Performance

Celestica stock traded down $0.99 during mid-day trading on Friday, reaching $122.48. 7,193,888 shares of the company were exchanged, compared to its average volume of 4,869,234. The firm has a market cap of $14.25 billion, a PE ratio of 32.76 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company has a fifty day simple moving average of $98.48 and a 200-day simple moving average of $72.36. Celestica has a 12 month low of $35.56 and a 12 month high of $133.66.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Optimum Investment Advisors boosted its stake in Celestica by 66.7% during 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. Financial Management Professionals Inc. acquired a new position in shares of Celestica during the third quarter valued at about $30,000. Peregrine Capital Management LLC bought a new position in shares of Celestica during the 4th quarter worth about $30,000. UMB Bank n.a. acquired a new stake in shares of Celestica in the 3rd quarter valued at about $34,000. Finally, Private Trust Co. NA increased its position in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after buying an additional 720 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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.