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

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by investment analysts at TD Securities from $70.00 to $107.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. TD Securities’ price target points to a potential upside of 13.36% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. TD Cowen upped their price target 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. UBS Group assumed coverage on shares of Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group upped their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays started coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.82.

Celestica Stock Up 8.0 %

Shares of Celestica stock traded up $7.03 during trading on Tuesday, reaching $94.39. The company’s stock had a trading volume of 8,490,400 shares, compared to its average volume of 3,840,020. Celestica has a 1-year low of $31.82 and a 1-year high of $131.23. The company has a 50-day simple moving average of $96.92 and a two-hundred day simple moving average of $71.01. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 29.96 and a beta of 2.25.

Insider Activity

In other news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several large investors have recently bought and sold shares of the business. Optimum Investment Advisors boosted its holdings 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 last quarter. R Squared Ltd purchased a new position in Celestica during the fourth quarter worth approximately $51,000. Financial Management Professionals Inc. acquired a new position in Celestica during the third quarter worth $30,000. UMB Bank n.a. purchased a new stake in Celestica in the 3rd quarter valued at $34,000. Finally, Private Trust Co. NA increased its stake in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after acquiring an additional 720 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.