Celestica Inc. (NYSE:CLS) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have earned an average rating of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $103.27.

CLS has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, TD Securities increased their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th.

Celestica Price Performance

Shares of NYSE:CLS opened at $130.11 on Thursday. Celestica has a 12 month low of $36.00 and a 12 month high of $144.27. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 34.79 and a beta of 2.27. The stock’s 50 day moving average price is $104.10 and its 200 day moving average price is $75.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity

In other news, President Todd C. Cooper sold 65,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares in the company, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently modified their holdings of CLS. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica in the third quarter worth $61,210,000. Whale Rock Capital Management LLC increased its stake in shares of Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Celestica in the fourth quarter worth $47,685,000. Point72 Asset Management L.P. increased its stake in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after acquiring an additional 301,563 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Celestica by 1,697.3% in the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after acquiring an additional 220,494 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.