Celestica (NYSE:CLS) Shares Gap Up After Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) gapped up before the market opened on Tuesday after TD Securities raised their price target on the stock from $70.00 to $107.00. The stock had previously closed at $87.36, but opened at $91.65. TD Securities currently has a buy rating on the stock. Celestica shares last traded at $91.17, with a volume of 2,142,439 shares changing hands.

Several other brokerages also recently commented on CLS. 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 report on Thursday, October 24th. UBS Group initiated coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus increased their price objective on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays initiated coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.82.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the business’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 transaction, the director now directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. acquired a new stake in Celestica during the fourth quarter worth $304,000. Van ECK Associates Corp boosted its holdings in Celestica by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 99,684 shares of the technology company’s stock valued at $9,194,000 after purchasing an additional 32,418 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Celestica in the 4th quarter worth approximately $237,000. Kestra Private Wealth Services LLC lifted its position in shares of Celestica by 20.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 13,290 shares of the technology company’s stock worth $1,227,000 after buying an additional 2,219 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new stake in Celestica in the fourth quarter valued at $537,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Up 6.3 %

The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 31.89 and a beta of 2.25. The firm has a 50 day simple moving average of $97.35 and a 200-day simple moving average of $71.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

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.