Celestica, Inc. (NYSE:CLS) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Celestica a consensus rating of “Moderate Buy” from 21 analysts (16 buy, 2 strong buy, 3 hold) with an average 1‑year price target of about $355.39.
• Company insiders sold a total of 297,923 shares last quarter (about $88.03M), including President Todd C. Cooper and Yann L. Etienvre, leaving insiders with roughly 0.52% ownership.
• Several large institutions have been increasing positions (Vanguard, JPMorgan, Arrowstreet, Franklin), and hedge funds/institutions now own about 67.38% of the stock.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS has been given an average recommendation of "Moderate Buy" by the twenty-one analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $355.3889.

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Celestica in a report on Wednesday, January 21st. Citigroup dropped their price objective on Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a report on Friday, January 30th. Wall Street Zen upgraded Celestica from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. Aletheia Capital increased their price objective on Celestica from $330.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Finally, TD Cowen restated a "hold" rating on shares of Celestica in a research note on Friday, January 30th.

Insider Activity

In other news, President Todd C. Cooper sold 89,484 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the transaction, the president owned 108,970 shares in the company, valued at $31,323,426.50. This trade represents a 45.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 297,923 shares of company stock worth $88,027,459 in the last quarter. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Celestica by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,811,695 shares of the technology company's stock valued at $1,423,333,000 after purchasing an additional 73,022 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Celestica by 24.8% in the 4th quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company's stock valued at $1,187,650,000 after purchasing an additional 798,782 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Celestica by 5,806,149.2% in 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 purchasing an additional 3,657,874 shares during the period. Arrowstreet Capital Limited Partnership increased its position in 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 buying an additional 2,596,318 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Celestica by 18.6% during the 4th quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company's stock valued at $673,471,000 after buying an additional 356,797 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Trading Down 1.0%

NYSE CLS opened at $291.81 on Tuesday. Celestica has a fifty-two week low of $61.07 and a fifty-two week high of $363.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. The stock has a 50 day simple moving average of $285.02 and a two-hundred day simple moving average of $293.53. The stock has a market cap of $33.55 billion, a P/E ratio of 40.64 and a beta of 1.88.

Celestica Company Profile

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.

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