Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares were up 1.7% during mid-day trading on Thursday after Barclays raised their price target on the stock from $139.00 to $157.00. Barclays currently has an overweight rating on the stock. Celestica traded as high as $135.25 and last traded at $131.56. Approximately 1,633,088 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 4,926,196 shares. The stock had previously closed at $129.32.
Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. BMO Capital Markets boosted their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target on the stock in a research note on Friday, January 31st. Finally, Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.91.
Check Out Our Latest Stock Report on CLS
In other Celestica news, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction that occurred 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company's stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 in the last ninety days. 1.00% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in Celestica during the fourth quarter worth $7,374,000. NewEdge Advisors LLC lifted its stake in shares of Celestica by 5.5% during the 4th quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company's stock worth $498,000 after purchasing an additional 281 shares during the period. EAM Global Investors LLC acquired a new stake in shares of Celestica during the fourth quarter worth $8,387,000. EAM Investors LLC purchased a new stake in shares of Celestica in the fourth quarter valued at $1,455,000. Finally, Stonehaven Wealth & Tax Solutions LLC acquired a new position in Celestica in the fourth quarter valued at $214,000. Hedge funds and other institutional investors own 67.38% of the company's stock.
The stock's 50 day moving average price is $105.64 and its 200 day moving average price is $76.47. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market cap of $15.11 billion, a price-to-earnings ratio of 34.71 and a beta of 2.27.
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.
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