JPMorgan Chase & Co. Issues Pessimistic Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS) (TSE:CLS) had its target price lowered by research analysts at JPMorgan Chase & Co. from $166.00 to $105.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.82% from the stock’s previous close.

A number of other research firms have also issued reports on CLS. Barclays upped their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. CIBC decreased their target price on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research report on Tuesday. TD Securities increased their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Two 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. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

Celestica Stock Up 4.4 %

Shares of NYSE:CLS opened at $84.12 on Thursday. 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 $9.75 billion, a P/E ratio of 22.49 and a beta of 2.09. Celestica has a 52-week low of $40.25 and a 52-week high of $144.27. The stock’s fifty day simple moving average is $94.54 and its 200-day simple moving average is $90.66.

Insider Activity at Celestica

In related news, insider Yann L. Etienvre sold 83,179 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 $10,171,128.12. Following the completion of the sale, the insider now directly owns 9,224 shares in the company, valued at approximately $1,127,910.72. This represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 934,381 shares of company stock worth $116,673,769. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Large investors have recently modified their holdings of the stock. Cornerstone Wealth Management LLC acquired a new stake in Celestica in the fourth quarter valued at approximately $385,000. Raymond James Financial Inc. acquired a new stake in Celestica during the 4th quarter valued at $47,685,000. Schechter Investment Advisors LLC purchased a new stake in Celestica during the 4th quarter worth $294,000. American Century Companies Inc. lifted its holdings in Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock worth $20,217,000 after buying an additional 30,851 shares in the last quarter. Finally, Fruth Investment Management purchased a new position in Celestica in the 4th quarter valued at about $286,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.