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

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by Barclays from $139.00 to $157.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. TD Cowen boosted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.91.

Celestica Price Performance

CLS opened at $129.83 on Thursday. The firm has a 50-day moving average price of $105.64 and a 200-day moving average price of $76.47. Celestica has a twelve month low of $36.11 and a twelve month high of $144.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 34.71 and a beta of 2.27.

Insider Activity

In related news, CEO Robert Mionis sold 441,325 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Optimum Investment Advisors grew its holdings in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Celestica during the third quarter valued at about $30,000. Peregrine Capital Management LLC purchased a new position in shares of Celestica in the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd lifted its stake in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Celestica during the 4th quarter valued at about $42,000. 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.