Celestica (NYSE:CLS) Price Target Lowered to $120.00 at CIBC

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price target lowered by equities research analysts at CIBC from $150.00 to $120.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm currently has an "outperformer" rating on the technology company's stock. CIBC's price target points to a potential upside of 42.66% from the stock's current price.

CLS has been the topic of a number of other reports. Royal Bank of Canada upped their price target on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research report on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, TD Securities raised their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.25.

Celestica Stock Up 4.4 %

Shares of NYSE CLS traded up $3.56 during trading on Tuesday, hitting $84.12. 5,273,486 shares of the company traded hands, compared to its average volume of 3,102,287. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 22.49 and a beta of 2.09. The business's fifty day moving average is $93.69 and its 200 day moving average is $91.18. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a fifty-two week low of $40.25 and a fifty-two week high of $144.27.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 83,179 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $10,171,128.12. Following the transaction, the insider now directly owns 9,224 shares in the company, valued at $1,127,910.72. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Mionis sold 441,325 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares of the company's stock, valued at approximately $64,981,670.76. The trade was a 45.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 934,381 shares of company stock worth $116,673,769. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new position in shares of Celestica during the 4th quarter worth $385,000. Raymond James Financial Inc. purchased a new stake in Celestica during the fourth quarter valued at about $47,685,000. Schechter Investment Advisors LLC bought a new position in Celestica during the fourth quarter worth about $294,000. American Century Companies Inc. boosted its position in Celestica by 16.4% during the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock worth $20,217,000 after purchasing an additional 30,851 shares during the period. Finally, Fruth Investment Management purchased a new position in shares of Celestica in the fourth quarter worth about $286,000. 67.38% of the stock is owned by institutional investors.

Celestica Company Profile

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.