Barclays Lowers Celestica (NYSE:CLS) Price Target to $126.00

by · The Cerbat Gem

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) had its price objective decreased by investment analysts at Barclays from $157.00 to $126.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 39.79% from the company’s current price.

CLS has been the topic of a number of other research reports. Stifel Nicolaus lifted their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada cut their price objective on Celestica from $160.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. CIBC dropped their price objective on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 15th. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.18.

View Our Latest Report on CLS

Celestica Stock Performance

Shares of CLS stock opened at $90.14 on Monday. 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 52 week low of $40.25 and a 52 week high of $144.27. The company’s 50 day moving average price is $89.22 and its two-hundred day moving average price is $92.50. The company has a market capitalization of $10.45 billion, a P/E ratio of 24.06 and a beta of 2.09.

Insiders Place Their Bets

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares of the company’s stock, valued at $10,608,649.66. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. 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. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

A number of hedge funds have recently bought and sold shares of CLS. Rothschild Investment LLC bought a new position in shares of Celestica in the first quarter worth $26,000. ORG Partners LLC bought a new stake in Celestica during the 1st quarter worth approximately $29,000. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter valued at $30,000. Center for Financial Planning Inc. purchased a new stake in shares of Celestica in the first quarter worth $30,000. Finally, Pinpoint Asset Management Ltd increased its stake in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

About Celestica

(Get Free Report)

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.

Read More