Celestica (NYSE:CLS) Reaches New 52-Week High After Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) reached a new 52-week high on Friday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $133.66 and last traded at $131.06, with a volume of 4235221 shares trading hands. The stock had previously closed at $114.15.

Other equities analysts have also issued research reports about the company. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. BMO Capital Markets lifted their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” 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 company a “buy” rating in a research note on Friday, December 20th. Barclays boosted their price objective on Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, CIBC upgraded 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. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.64.

Insider Buying and Selling

In other 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 transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Several large investors have recently modified their holdings of CLS. Optimum Investment Advisors grew its stake in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Truist Financial Corp lifted its position 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 acquiring an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Celestica by 26.6% during the 3rd 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. lifted its holdings in shares of Celestica by 43.6% in the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock valued at $88,000 after purchasing an additional 288 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in Celestica during the fourth quarter worth $30,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

The company’s fifty day moving average price is $98.48 and its 200 day moving average price is $72.36. The company has a market cap of $12.92 billion, a PE ratio of 33.04 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

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.