Celestica Inc. (NYSE:CLS) Receives Average Recommendation of “Buy” from Analysts

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have earned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $103.27.

Several equities analysts have commented on CLS shares. BMO Capital Markets increased their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research report on Friday, January 31st.

Insider Activity at Celestica

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in Celestica by 60.8% during the fourth quarter. Advisors Asset Management Inc. now owns 52,890 shares of the technology company’s stock worth $4,882,000 after purchasing an additional 19,989 shares during the period. William Blair Investment Management LLC bought a new position in shares of Celestica in the fourth quarter valued at approximately $2,797,000. Counterpoint Mutual Funds LLC bought a new position in shares of Celestica in the fourth quarter valued at approximately $480,000. Corient Private Wealth LLC raised its stake in shares of Celestica by 8.7% in the fourth quarter. Corient Private Wealth LLC now owns 8,150 shares of the technology company’s stock valued at $752,000 after acquiring an additional 650 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Celestica in the fourth quarter valued at approximately $2,133,000. Institutional investors own 67.38% of the company’s stock.

Celestica Trading Up 0.3 %

Celestica stock opened at $130.11 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 34.79 and a beta of 2.27. Celestica has a one year low of $36.00 and a one year high of $144.27. The company’s fifty day moving average price is $104.10 and its two-hundred day moving average price is $75.58.

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.