Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) gapped down before the market opened on Monday . The stock had previously closed at $121.69, but opened at $105.63. Celestica shares last traded at $102.34, with a volume of 4,050,386 shares changing hands.
Analysts Set New Price Targets
Several research firms have weighed in on CLS. UBS Group initiated coverage on shares of Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. Barclays initiated coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock. TD Cowen upped their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.45.
Get Our Latest Research Report on CLS
Celestica Stock Down 23.7 %
Insider Buying and Selling at Celestica
In other Celestica news, Director Michael Wilson sold 25,000 shares of the company’s 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 sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.
Institutional Trading of Celestica
Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Vaughan Nelson Investment Management L.P. purchased a new position in Celestica during the third quarter worth $61,210,000. Whale Rock Capital Management LLC boosted its stake in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares during the period. Point72 Asset Management L.P. grew its holdings in Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares during the last quarter. Natixis Advisors LLC raised its position in Celestica by 1,697.3% in the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after purchasing an additional 220,494 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd lifted its stake in Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after purchasing an additional 183,300 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.
About Celestica
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.
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