Celestica (NYSE:CLS) Raised to “Strong-Buy” at Wolfe Research

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by stock analysts at Wolfe Research to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

CLS has been the topic of several other reports. Canadian Imperial Bank of Commerce raised their price objective on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group boosted their price target on shares of Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Aletheia Capital upped their price objective on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $356.59.

Celestica Trading Up 1.9%

CLS stock opened at $292.12 on Tuesday. Celestica has a 52-week low of $58.05 and a 52-week high of $363.40. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The firm has a market cap of $33.61 billion, a P/E ratio of 40.69 and a beta of 1.86. The company’s 50-day simple moving average is $301.50 and its 200-day simple moving average is $277.88.

Insiders Place Their Bets

In other news, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 in the last 90 days. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Celestica by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,811,695 shares of the technology company’s stock worth $1,423,333,000 after buying an additional 73,022 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Celestica by 24.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company’s stock worth $1,187,650,000 after acquiring an additional 798,782 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Celestica by 5,806,149.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock valued at $1,081,323,000 after acquiring an additional 3,657,874 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after acquiring an additional 2,596,318 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Celestica by 18.6% in the fourth quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company’s stock valued at $673,471,000 after purchasing an additional 356,797 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.