Celestica (NYSE:CLS) Coverage Initiated by Analysts at Stifel Nicolaus

Equities researchers at Stifel Nicolaus assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $140.00 price target on the technology company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 15.74% from the stock’s previous close.

Several other research firms also recently commented on CLS. 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 note on Friday. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday. TD Cowen increased their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Two 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. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Stock Down 2.0 %

Celestica stock opened at $120.96 on Tuesday. Celestica has a 1-year low of $35.56 and a 1-year high of $133.66. The business has a fifty day moving average price of $99.19 and a 200-day moving average price of $72.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 32.34 and a beta of 2.27.

Insider Activity at Celestica

In other Celestica news, CFO Mandeep Chawla sold 9,483 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,209,461.82. Following the transaction, the chief financial officer now directly owns 90,771 shares of the company’s stock, valued at $11,576,933.34. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the transaction, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,790 shares of company stock worth $12,772,207 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several large investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC acquired a new stake in shares of Celestica in the 4th quarter valued at $30,000. Optimum Investment Advisors lifted its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. R Squared Ltd acquired a new position in Celestica in the fourth quarter valued at $51,000. Financial Management Professionals Inc. purchased a new position in shares of Celestica during the third quarter worth about $30,000. Finally, UMB Bank n.a. acquired a new stake in shares of Celestica during the third quarter worth about $34,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

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.