Celestica (NYSE:CLS) Price Target Raised to $350.00 at TD Cowen

Key Points

• TD Cowen raised its target on Celestica from $330 to $350 but kept a "hold" rating, implying about a 10.9% downside from the stock's current price.
• Analyst sentiment is mixed-to-positive: MarketBeat shows a consensus rating of "Moderate Buy" with a consensus target of $369.11, while individual targets range broadly (roughly $338 to $430) across firms.
• The stock traded near $393 (close to its 12‑month high of $404.95) and insiders have been net sellers—297,923 shares (~$88M) sold in the last 90 days—leaving insiders with only 0.52% ownership.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its target price upped by stock analysts at TD Cowen from $330.00 to $350.00 in a report released on Monday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. TD Cowen's target price would suggest a potential downside of 10.94% from the stock's current price.

CLS has been the subject of a number of other research reports. Susquehanna assumed coverage on Celestica in a research report on Wednesday, April 1st. They set a "positive" rating and a $375.00 target price for the company. 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. Aletheia Capital upped their target price on shares of Celestica from $330.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Zacks Research cut shares of Celestica from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Celestica from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Celestica currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.11.

Celestica Trading Down 0.8%

CLS stock traded down $3.00 during trading on Monday, hitting $393.01. The company had a trading volume of 505,433 shares, compared to its average volume of 2,472,176. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $294.75 and a 200-day moving average price of $300.34. Celestica has a 12 month low of $78.84 and a 12 month high of $404.95. The stock has a market cap of $45.18 billion, a price-to-earnings ratio of 54.74 and a beta of 1.88.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 1,065 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the completion of the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Jason Phillips sold 100,000 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares of the company's stock, valued at $3,887,449.28. This trade represents a 88.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 297,923 shares of company stock worth $88,027,459 over the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $28,000. Swiss RE Ltd. bought a new position in Celestica in the fourth quarter valued at $29,000. Cullen Frost Bankers Inc. bought a new position in Celestica in the fourth quarter valued at $30,000. Sittner & Nelson LLC bought a new stake in Celestica during the 4th quarter worth about $31,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock worth $31,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.