Celestica (NYSE:CLS) Price Target Raised to $350.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by TD Cowen from $330.00 to $350.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. TD Cowen’s target price would indicate a potential downside of 10.94% from the stock’s previous close.

A number of other analysts have also recently commented on CLS. Royal Bank Of Canada reissued an “outperform” rating and issued a $400.00 price objective on shares of Celestica in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce upped their target price on shares of Celestica from $360.00 to $425.00 and gave the company an “outperformer” rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price target on Celestica from $360.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday. Wolfe Research raised Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, TD Securities restated a “hold” rating and issued a $350.00 price objective on shares of Celestica in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.11.

Celestica Stock Down 0.8%

Shares of NYSE CLS traded down $3.00 during trading hours on Monday, hitting $393.01. The company had a trading volume of 505,433 shares, compared to its average volume of 2,472,176. Celestica has a 1-year low of $78.84 and a 1-year high of $404.95. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $294.75 and its 200-day moving average is $300.34. The stock has a market capitalization of $45.18 billion, a P/E ratio of 54.74 and a beta of 1.88.

Insider Activity at Celestica

In other Celestica news, President Jason Phillips sold 100,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares of the company’s stock, valued at $3,887,449.28. This represents a 88.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $24,786,526.05. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 297,923 shares of company stock worth $88,027,459. Insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently made changes to their positions in the company. NewGen Equity Long Short Fund acquired a new position in shares of Celestica during the 2nd quarter worth $14,050,000. Northwestern Mutual Wealth Management Co. lifted its stake in Celestica by 7,646.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,007 shares of the technology company’s stock valued at $157,000 after purchasing an additional 994 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Celestica by 30.0% during the second quarter. First Trust Advisors LP now owns 78,061 shares of the technology company’s stock worth $12,197,000 after buying an additional 18,025 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Celestica by 385.8% during the second quarter. NewEdge Advisors LLC now owns 2,803 shares of the technology company’s stock worth $438,000 after buying an additional 2,226 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its stake in shares of Celestica by 11.0% in the 2nd quarter. HUB Investment Partners LLC now owns 3,181 shares of the technology company’s stock valued at $497,000 after acquiring an additional 315 shares during the last quarter. 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.