Celestica Inc. (NYSE:CLS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have earned an average recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $103.27.

Several analysts recently issued reports on CLS shares. UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Barclays upped their target price on Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus started coverage on shares of Celestica in a research note on Tuesday, February 4th. They issued a “buy” rating and a $140.00 price target for the company. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, TD Securities lifted their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th.

Celestica Price Performance

Shares of Celestica stock opened at $129.50 on Thursday. The company’s fifty day simple moving average is $105.64 and its two-hundred day simple moving average is $76.47. Celestica has a 12-month low of $36.00 and a 12-month high of $144.27. The firm has a market cap of $15.07 billion, a PE ratio of 34.63 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insider Activity at Celestica

In other news, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 over the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC lifted its holdings in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the last quarter. Norges Bank purchased a new stake in Celestica during the fourth quarter valued at approximately $139,008,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica in the 3rd quarter worth $61,210,000. Finally, Point72 Asset Management L.P. raised its holdings in Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after purchasing an additional 301,563 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.