Celestica (NYSE:CLS) Trading Up 5.5% Following Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded up 5.5% during trading on Wednesday after TD Securities raised their price target on the stock from $70.00 to $107.00. TD Securities currently has a buy rating on the stock. Celestica traded as high as $102.61 and last traded at $99.72. 1,956,201 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 3,726,272 shares. The stock had previously closed at $94.48.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their target price on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Stifel Nicolaus upped their price target on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Cowen boosted their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.82.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Large investors have recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its stake in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Truist Financial Corp boosted its stake in Celestica by 2.0% in the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after buying an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after acquiring an additional 275 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Celestica by 43.6% in the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after purchasing an additional 288 shares during the last quarter. Finally, Pier Capital LLC raised its stake in shares of Celestica by 0.4% in the third quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after acquiring an additional 335 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market capitalization of $11.73 billion, a P/E ratio of 31.98 and a beta of 2.25. The stock has a 50-day simple moving average of $97.08 and a 200 day simple moving average of $71.25.

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.