Celestica (NYSE:CLS) Given Outperform Rating at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They presently have a $120.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 35.23% from the company’s previous close.

Several other analysts have also issued reports on the company. Barclays dropped their price objective on Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday. TD Securities upped their price target on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Stifel Nicolaus lifted their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and a consensus price target of $104.09.

Celestica Stock Down 0.4 %

NYSE:CLS traded down $0.31 during trading hours on Monday, reaching $88.74. 1,343,772 shares of the stock were exchanged, compared to its average volume of 3,120,686. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a twelve month low of $40.25 and a twelve month high of $144.27. The stock has a market cap of $10.29 billion, a PE ratio of 23.54 and a beta of 2.09. The firm has a 50 day moving average of $89.22 and a 200 day moving average of $92.50.

Insider Transactions at Celestica

In other Celestica news, insider Yann L. Etienvre sold 83,179 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $10,171,128.12. Following the completion of the transaction, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,127,910.72. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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 directly owns 531,417 shares in the company, 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. Insiders have sold 934,381 shares of company stock valued at $116,673,769 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Trading of Celestica

Hedge funds have recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new stake in Celestica during the 4th quarter valued at $385,000. Raymond James Financial Inc. purchased a new stake in Celestica in the 4th quarter worth $47,685,000. Schechter Investment Advisors LLC purchased a new stake in shares of Celestica during the fourth quarter worth approximately $294,000. American Century Companies Inc. boosted its stake in Celestica by 16.4% during the fourth 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 during the last quarter. Finally, Fruth Investment Management purchased a new position in Celestica during the fourth quarter worth about $286,000. 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.