JPMorgan Chase & Co. Issues Positive Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price objective upped by analysts at JPMorgan Chase & Co. from $105.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 31.51% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. CIBC cut their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada dropped their price objective on Celestica from $160.00 to $120.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus raised their target price on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. TD Securities upped their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Barclays decreased 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. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $104.09.

Celestica Stock Performance

Shares of Celestica stock traded down $1.61 during trading hours on Monday, hitting $87.45. 1,015,141 shares of the company were exchanged, compared to its average volume of 5,016,974. 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 stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 23.38 and a beta of 2.09. The business has a 50-day moving average of $89.22 and a 200-day moving average of $92.50. Celestica has a 1 year low of $40.25 and a 1 year high of $144.27.

Insiders Place Their Bets

In other news, CEO Robert Mionis sold 52,588 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the transaction, the chief executive officer now owns 531,417 shares of the company's stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 934,381 shares of company stock valued at $116,673,769. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC purchased a new stake in Celestica in the 4th quarter valued at about $30,000. Rothschild Investment LLC acquired a new position in Celestica during the first quarter worth approximately $26,000. Pinpoint Asset Management Ltd grew its position in Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after acquiring an additional 182 shares during the period. ORG Partners LLC purchased a new position in shares of Celestica in the 1st quarter worth about $29,000. Finally, Center for Financial Planning Inc. purchased a new stake in shares of Celestica during the 1st quarter worth about $30,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

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.

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