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

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $166.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 32.99% from the stock’s current price.

Several other equities analysts have also commented on CLS. Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upped their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a research report on Friday, January 31st. Finally, TD Cowen boosted 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. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

NYSE CLS opened at $124.82 on Friday. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 33.37 and a beta of 2.27. The business has a fifty day moving average of $110.38 and a 200-day moving average of $79.66. Celestica has a fifty-two week low of $36.11 and a fifty-two week 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.

Insider Activity at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the sale, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in shares of Celestica by 39.3% during the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after purchasing an additional 214,872 shares during the period. Invst LLC increased its position in Celestica by 11.7% in the 4th quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after acquiring an additional 1,174 shares during the period. Vise Technologies Inc. increased its position in Celestica by 100.9% in the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock valued at $4,113,000 after acquiring an additional 22,387 shares during the period. Castleark Management LLC acquired a new stake in Celestica in the 4th quarter valued at approximately $9,378,000. Finally, Tidal Investments LLC acquired a new stake in Celestica in the 4th quarter valued at approximately $495,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.