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

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

CLS has been the subject of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. TD Cowen restated a “hold” rating on shares of Celestica in a report on Friday, January 30th. Zacks Research upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.59.

Celestica Stock Down 3.0%

Shares of NYSE:CLS opened at $282.63 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. Celestica has a 52-week low of $58.05 and a 52-week high of $363.40. The business’s 50 day simple moving average is $301.50 and its two-hundred day simple moving average is $277.88. The firm has a market cap of $32.51 billion, a P/E ratio of 39.42 and a beta of 1.86.

Insider Activity at Celestica

In other news, President Todd C. Cooper sold 89,484 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares of the company’s stock, valued at $31,323,426.50. This represents a 45.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yann L. Etienvre sold 86,229 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 transaction of $24,786,526.05. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. lifted its position in shares of Celestica by 38.1% during the second quarter. D.A. Davidson & CO. now owns 20,200 shares of the technology company’s stock worth $3,153,000 after acquiring an additional 5,575 shares in the last quarter. Guardian Asset Advisors LLC bought a new stake in shares of Celestica during the 2nd quarter valued at $247,000. R Squared Ltd lifted its holdings in Celestica by 87.6% during the 2nd quarter. R Squared Ltd now owns 5,552 shares of the technology company’s stock worth $867,000 after purchasing an additional 2,592 shares in the last quarter. Moloney Securities Asset Management LLC boosted its stake in Celestica by 10.7% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 9,370 shares of the technology company’s stock worth $1,463,000 after purchasing an additional 907 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in Celestica by 41.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 10,297 shares of the technology company’s stock valued at $1,607,000 after buying an additional 3,011 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.