Celestica (NYSE:CLS) Price Target Raised to $450.00
by Scott Moore · The Cerbat GemCelestica (NYSE:CLS – Get Free Report) (TSE:CLS) had its price target raised by investment analysts at BMO Capital Markets from $370.00 to $450.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 10.92% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. TD Cowen lifted their target price on shares of Celestica from $330.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday. TD lifted their target price on shares of Celestica from $330.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research report on Wednesday, January 21st. Wolfe Research raised shares of Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Barclays lifted their target price on shares of Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $373.89.
View Our Latest Stock Analysis on CLS
Celestica Stock Up 3.6%
NYSE CLS traded up $14.09 during mid-day trading on Friday, reaching $405.69. The stock had a trading volume of 462,560 shares, compared to its average volume of 2,437,019. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. Celestica has a 1 year low of $81.88 and a 1 year high of $412.46. The stock has a market cap of $46.64 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88. The company has a fifty day moving average price of $302.91 and a 200 day moving average price of $303.88.
Insider Activity
In other news, President Jason Phillips sold 100,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the sale, the president owned 12,584 shares of the company’s stock, valued at $3,887,449.28. The trade was a 88.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Todd C. Cooper sold 1,065 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the transaction, the president directly owned 108,970 shares of the company’s stock, valued at $30,894,084.70. This represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,923 shares of company stock valued at $88,027,459 in the last 90 days. Company insiders own 0.52% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Tcfg Wealth Management LLC boosted its holdings in Celestica by 9.3% in the 1st quarter. Tcfg Wealth Management LLC now owns 1,574 shares of the technology company’s stock worth $443,000 after buying an additional 134 shares during the period. Element Squared LLC bought a new position in Celestica in the 1st quarter worth $2,253,000. Broad Peak Investment Advisers Pte Ltd boosted its holdings in Celestica by 55.7% in the 1st quarter. Broad Peak Investment Advisers Pte Ltd now owns 93,400 shares of the technology company’s stock worth $26,309,000 after buying an additional 33,400 shares during the period. Apollon Wealth Management LLC lifted its stake in Celestica by 70.1% in the 1st quarter. Apollon Wealth Management LLC now owns 1,698 shares of the technology company’s stock worth $478,000 after purchasing an additional 700 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in Celestica in the 1st quarter worth $504,000. Institutional investors own 67.38% of the company’s stock.
About Celestica
Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.
The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.