Celestica (NYSE:CLS) Price Target Cut to $120.00 by Analysts at CIBC

Celestica (NYSE:CLS) (TSE:CLS) had its target price decreased by CIBC from $150.00 to $120.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. CIBC currently has an outperformer rating on the technology company’s stock.

A number of other equities analysts have also issued reports on the company. Royal Bank of Canada increased their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. started coverage on shares of Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target for the company. Barclays lifted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.33.

Celestica Trading Up 2.1 %

Shares of NYSE:CLS opened at $82.58 on Tuesday. Celestica has a twelve month low of $40.25 and a twelve month high of $144.27. 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 has a market cap of $9.58 billion, a P/E ratio of 22.08 and a beta of 2.09. The company has a 50 day moving average of $97.45 and a 200-day moving average of $90.55.

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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 934,381 shares of company stock worth $116,673,769. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLS. State Street Corp acquired a new position in Celestica during the 3rd quarter valued at $452,000. MML Investors Services LLC raised its position in shares of Celestica by 274.0% during the third quarter. MML Investors Services LLC now owns 27,328 shares of the technology company’s stock valued at $1,397,000 after buying an additional 20,022 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Celestica in the third quarter valued at about $214,000. Barclays PLC grew its position in Celestica by 151.3% during the third quarter. Barclays PLC now owns 51,848 shares of the technology company’s stock worth $2,651,000 after buying an additional 31,219 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Celestica by 8.6% during the third quarter. Geode Capital Management LLC now owns 109,915 shares of the technology company’s stock valued at $6,236,000 after acquiring an additional 8,660 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.