Barclays Issues Positive Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by equities research analysts at Barclays from $139.00 to $157.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 21.24% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. 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 on the stock. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. TD Cowen raised their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, TD Securities raised their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $104.91.

Celestica Stock Performance

Shares of CLS stock opened at $129.50 on Thursday. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 34.63 and a beta of 2.27. The stock has a fifty day moving average of $105.64 and a 200 day moving average of $76.47. Celestica has a 52 week low of $36.00 and a 52 week high of $144.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 65,000 shares of the firm’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 transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock valued at $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Optimum Investment Advisors boosted its holdings in shares of Celestica by 66.7% in 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 last quarter. Financial Management Professionals Inc. bought a new position in Celestica in the third quarter worth approximately $30,000. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter worth $30,000. Pinpoint Asset Management Ltd grew its position in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares during the period. Finally, Private Trust Co. NA grew its position in shares of Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.