Celestica (NYSE:CLS) Hits New 52-Week High Following Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) reached a new 52-week high during trading on Friday after CIBC upgraded the stock from a neutral rating to a sector outperform rating. CIBC now has a $150.00 price target on the stock. Celestica traded as high as $133.66 and last traded at $131.06, with a volume of 4235221 shares changing hands. The stock had previously closed at $114.15.

Several other equities analysts have also weighed in on CLS. BMO Capital Markets lifted their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Barclays increased their price objective on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group started 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. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average price target of $97.36.

Insider Transactions at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Optimum Investment Advisors boosted its stake in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the period. Truist Financial Corp increased its holdings in Celestica by 2.0% in the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Celestica by 43.6% during the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after buying an additional 288 shares during the period. Finally, Pier Capital LLC raised its holdings in shares of Celestica by 0.4% in the 3rd quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after buying an additional 335 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Trading Up 15.8 %

The company has a 50 day moving average of $97.80 and a 200-day moving average of $71.75. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 35.03 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.

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.