Cibc World Mkts Upgrades Celestica (NYSE:CLS) to Strong-Buy

Cibc World Mkts upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

A number of other brokerages have also recently commented on CLS. UBS Group started coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group upped their target price 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. TD Securities lifted their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 report on Friday. Finally, BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.64.

Celestica Stock Performance

CLS stock opened at $123.57 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a twelve month low of $32.80 and a twelve month high of $133.66. The business’s fifty day moving average is $98.48 and its 200-day moving average is $72.18. The company has a market cap of $14.38 billion, a P/E ratio of 33.04 and a beta of 2.25.

Insider Activity

In other news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred 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 transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently modified their holdings of the stock. Optimum Investment Advisors increased its holdings in shares of 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 purchasing an additional 200 shares during the period. Financial Management Professionals Inc. acquired a new position in Celestica in the 3rd quarter valued at $30,000. Peregrine Capital Management LLC acquired a new stake in shares of Celestica during the 4th quarter worth $30,000. UMB Bank n.a. bought a new position in shares of Celestica in the third quarter worth $34,000. Finally, Private Trust Co. NA increased its position in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.