Celestica (NYSE:CLS) Price Target Raised to $450.00

Key Points

• Price target raised to $450: BMO Capital Markets bumped its Celestica target from $370 to $450 and kept an "outperform" rating, implying roughly a 10.9% upside from the stock's current price.
• Shares jumped about 3.6% to $405.69 during mid-day trading; the company has a market cap of $46.64 billion, a P/E of 56.61, and a 52‑week range of $81.88 to $412.46.
• Insider selling: Company insiders have sold heavily recently — President Jason Phillips sold 100,000 shares (~$30.9M) and insiders disposed of ~297,923 shares worth $88.03M in the last 90 days, while insiders still own 0.52% of the stock.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price target raised by investment analysts at BMO Capital Markets from $370.00 to $450.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has an "outperform" rating on the technology company's stock. BMO Capital Markets' price target would indicate a potential upside of 10.92% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. TD Cowen lifted their target price on shares of Celestica from $330.00 to $350.00 and gave the stock a "hold" rating in a research report on Monday. TD lifted their target price on shares of Celestica from $330.00 to $350.00 and gave the stock a "hold" rating in a research report on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Celestica in a research report on Wednesday, January 21st. Wolfe Research raised shares of Celestica to a "strong-buy" rating in a research report on Tuesday, February 17th. Finally, Barclays lifted their target price on shares of Celestica from $359.00 to $391.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $373.89.

Celestica Stock Up 3.6%

NYSE CLS traded up $14.09 during mid-day trading on Friday, reaching $405.69. The stock had a trading volume of 462,560 shares, compared to its average volume of 2,437,019. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. Celestica has a 1 year low of $81.88 and a 1 year high of $412.46. The stock has a market cap of $46.64 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88. The company has a fifty day moving average price of $302.91 and a 200 day moving average price of $303.88.

Insider Activity

In other news, President Jason Phillips sold 100,000 shares of the business's stock in a transaction 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 sale, the president owned 12,584 shares of the company's stock, valued at $3,887,449.28. The trade was a 88.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Todd C. Cooper sold 1,065 shares of the company's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the transaction, the president directly owned 108,970 shares of the company's stock, valued at $30,894,084.70. This represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,923 shares of company stock valued at $88,027,459 in the last 90 days. Company insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Tcfg Wealth Management LLC boosted its holdings in Celestica by 9.3% in the 1st quarter. Tcfg Wealth Management LLC now owns 1,574 shares of the technology company's stock worth $443,000 after buying an additional 134 shares during the period. Element Squared LLC bought a new position in Celestica in the 1st quarter worth $2,253,000. Broad Peak Investment Advisers Pte Ltd boosted its holdings in Celestica by 55.7% in the 1st quarter. Broad Peak Investment Advisers Pte Ltd now owns 93,400 shares of the technology company's stock worth $26,309,000 after buying an additional 33,400 shares during the period. Apollon Wealth Management LLC lifted its stake in Celestica by 70.1% in the 1st quarter. Apollon Wealth Management LLC now owns 1,698 shares of the technology company's stock worth $478,000 after purchasing an additional 700 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in Celestica in the 1st quarter worth $504,000. Institutional investors 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.

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.