CIBC Upgrades Celestica (NYSE:CLS) to “Sector Outperform”

CIBC upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a neutral rating to a sector outperform rating in a research note released on Friday morning, MarketBeat reports. They currently have $150.00 price objective on the technology company’s stock.

A number of other brokerages have also recently weighed in on CLS. Stifel Nicolaus lifted their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Securities boosted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group started coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. 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, BMO Capital Markets upped their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and an average price target of $99.64.

Celestica Price Performance

Celestica stock opened at $123.57 on Friday. Celestica has a 1 year low of $32.80 and a 1 year high of $133.66. The firm has a 50 day moving average price of $98.48 and a 200 day moving average price of $72.18. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 33.04 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Activity

In other Celestica 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 completion of the transaction, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Cornerstone Wealth Management LLC acquired a new stake in shares of Celestica during the fourth quarter worth approximately $385,000. Quantbot Technologies LP boosted its holdings in shares of Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Celestica during the third quarter worth approximately $61,210,000. Sigma Planning Corp acquired a new stake in shares of Celestica during the third quarter worth approximately $420,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

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.