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

Celestica (NYSE:CLS) (TSE:CLS) had its price objective boosted by Barclays from $91.00 to $139.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their price target on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Stifel Nicolaus boosted their price objective on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen upped their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.18.

Celestica Stock Performance

Shares of CLS stock opened at $114.11 on Thursday. Celestica has a 52 week low of $32.80 and a 52 week high of $131.23. The firm’s 50-day simple moving average is $97.80 and its two-hundred day simple moving average is $71.75. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 36.22 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Activity

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The stock was 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 in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. boosted its stake in shares of Celestica by 18.9% in the 2nd quarter. Sei Investments Co. now owns 48,230 shares of the technology company’s stock valued at $2,765,000 after purchasing an additional 7,670 shares in the last quarter. Creative Planning grew its stake in shares of Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after buying an additional 336 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Celestica by 54.6% during the second quarter. B. Riley Wealth Advisors Inc. now owns 22,770 shares of the technology company’s stock valued at $1,305,000 after buying an additional 8,041 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Celestica by 119.5% in the 2nd quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock valued at $1,504,000 after acquiring an additional 14,305 shares during the last quarter. 67.38% of the stock is currently owned by 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.