Celestica (NYSE:CLS) Price Target Raised to $139.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by analysts at Barclays from $91.00 to $139.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 12.49% from the stock’s current price.

Several other analysts also recently commented on the company. TD Cowen increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group started coverage on shares of Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. BMO Capital Markets increased their price target 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 lifted their price target on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average target price of $99.64.

Celestica Trading Up 8.2 %

Shares of CLS opened at $123.57 on Thursday. Celestica has a 1-year low of $32.80 and a 1-year high of $133.66. 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 firm’s 50-day moving average price is $98.48 and its 200-day moving average price is $72.36. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 33.04 and a beta of 2.27.

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of hedge funds have recently added to or reduced their stakes in CLS. Whale Rock Capital Management LLC raised its position in shares of 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 worth $432,846,000 after acquiring an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica during the 3rd quarter worth approximately $61,210,000. Point72 Asset Management L.P. raised its holdings in shares of Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Celestica by 25.8% during the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after acquiring an additional 109,972 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd boosted its stake in shares of Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after acquiring an additional 183,300 shares during the last quarter. 67.38% of the stock is 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.