Celestica (NYSE:CLS) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note released on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $166.00 price target on the technology company’s stock.

Several other brokerages have also recently commented on CLS. Stifel Nicolaus raised their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen boosted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets upped their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Down 4.5 %

NYSE CLS opened at $119.41 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. The firm has a 50 day simple moving average of $110.78 and a 200-day simple moving average of $80.16. Celestica has a one year low of $38.80 and a one year high of $144.27.

Insider Transactions at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now directly owns 9,224 shares in the company, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the transaction, the insider now owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new position in shares of Celestica during the fourth quarter worth approximately $385,000. Quantbot Technologies LP boosted its stake in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Celestica in the third quarter valued at $61,210,000. Sigma Planning Corp acquired a new position in Celestica in the third quarter valued at $420,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after buying an additional 12,584 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.