Celestica (NYSE:CLS) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a report published on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $166.00 target price on the technology company’s stock.

A number of other brokerages also recently commented on CLS. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Canaccord Genuity Group boosted their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus increased their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 4.5 %

Shares of Celestica stock opened at $119.41 on Friday. Celestica has a one year low of $38.80 and a one year high of $144.27. The company has a market cap of $13.89 billion, a P/E ratio of 31.93 and a beta of 2.27. 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 firm has a fifty day moving average of $110.78 and a two-hundred day moving average of $80.16.

Insider Transactions at Celestica

In related news, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the company’s 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 sale, the president now owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

A number of large investors have recently modified their holdings of the company. FMR LLC lifted its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after buying an additional 5,574,342 shares in the last quarter. FIL Ltd raised its stake in shares of Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after acquiring an additional 3,406,723 shares during the period. Norges Bank acquired a new position in shares of Celestica during the 4th quarter valued at $139,008,000. Polar Capital Holdings Plc boosted its position in Celestica by 822.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after purchasing an additional 1,433,681 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.