Celestica (NYSE:CLS) Trading 1.7% Higher After Analyst Upgrade

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price traded up 1.7% on Thursday after Barclays raised their price target on the stock from $139.00 to $157.00. Barclays currently has an overweight rating on the stock. Celestica traded as high as $135.25 and last traded at $131.56. 1,633,088 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 4,926,196 shares. The stock had previously closed at $129.32.

Several other analysts have also recently weighed in on the stock. CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target for the company in a research note on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. BMO Capital Markets upped their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.91.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Creative Planning raised its holdings in shares of Celestica by 36.1% in the 3rd quarter. Creative Planning now owns 10,240 shares of the technology company's stock valued at $523,000 after purchasing an additional 2,714 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of Celestica by 20.0% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,200 shares of the technology company's stock valued at $215,000 after purchasing an additional 700 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Celestica by 97.3% in the 3rd quarter. Blue Trust Inc. now owns 14,433 shares of the technology company's stock valued at $738,000 after purchasing an additional 7,119 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Celestica by 63.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 158,242 shares of the technology company's stock valued at $8,089,000 after purchasing an additional 61,135 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Celestica by 8.4% in the 3rd quarter. Whittier Trust Co. now owns 7,867 shares of the technology company's stock valued at $402,000 after buying an additional 608 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock's 50-day moving average is $107.98 and its 200 day moving average is $78.37. The stock has a market capitalization of $15.38 billion, a PE ratio of 35.34 and a beta of 2.27.

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.