Barclays Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lifted by equities research analysts at Barclays from $139.00 to $157.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 21.24% from the stock’s current price.

CLS has been the topic of a number of other research reports. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. UBS Group began coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. BMO Capital Markets lifted their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average price target of $104.91.

Celestica Price Performance

NYSE CLS opened at $129.50 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica has a 12 month low of $36.00 and a 12 month high of $144.27. The stock has a market cap of $15.07 billion, a price-to-earnings ratio of 34.63 and a beta of 2.27. The company’s 50 day moving average is $105.64 and its two-hundred day moving average is $76.47.

Insider Activity

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was 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 of the company’s stock, valued at $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Several large investors have recently modified their holdings of the stock. Independent Advisor Alliance lifted its position in Celestica by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after buying an additional 79 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock worth $188,000 after acquiring an additional 89 shares during the last quarter. Pinpoint Asset Management Ltd lifted its holdings in shares of 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. Optimum Investment Advisors boosted its stake in shares of Celestica by 66.7% during the 3rd 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. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

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.