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

Celestica (NYSE:CLS) (TSE:CLS) had its price objective trimmed by Argus from $150.00 to $120.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

CLS has been the topic of a number of other reports. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus lifted their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Barclays lowered their price objective on shares of Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price target on shares of Celestica in a research note on Monday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.42.

Celestica Price Performance

Celestica stock opened at $87.03 on Tuesday. 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 capitalization of $10.09 billion, a P/E ratio of 23.27 and a beta of 2.09. The business has a 50-day moving average of $87.58 and a 200-day moving average of $92.63. Celestica has a 1 year low of $40.25 and a 1 year high of $144.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The firm’s revenue was up 19.9% on a year-over-year basis. On average, equities analysts anticipate that Celestica will post 4.35 EPS for the current year.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the sale, the president now owns 175,426 shares in the company, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 934,381 shares of company stock valued at $116,673,769 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

Institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new stake in shares of Celestica in the fourth quarter valued at about $385,000. Raymond James Financial Inc. bought a new stake in Celestica in the 4th quarter valued at about $47,685,000. Schechter Investment Advisors LLC acquired a new position in shares of Celestica during the 4th quarter worth approximately $294,000. American Century Companies Inc. increased its holdings in shares of 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 purchasing an additional 30,851 shares during the period. Finally, Fruth Investment Management acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $286,000. 67.38% of the stock is currently owned by 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.