Celestica (NYSE:CLS) Given New $126.00 Price Target at Barclays

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lowered by Barclays from $157.00 to $126.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently issued reports on CLS. JPMorgan Chase & Co. lowered their price target on Celestica from $166.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada dropped their price target on Celestica from $160.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. CIBC lowered their price objective on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 15th. Finally, TD Securities upped their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.42.

Celestica Stock Performance

CLS stock opened at $85.36 on Monday. The firm has a 50 day moving average of $86.90 and a two-hundred day moving average of $92.58. Celestica has a 12 month low of $40.25 and a 12 month high of $144.27. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 22.82 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 earnings per share. As a group, equities analysts anticipate that Celestica will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the company’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 transaction of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Mionis sold 52,588 shares of the firm’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 transaction of $6,707,073.52. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 934,381 shares of company stock valued at $116,673,769. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Schweiz AG bought a new position in Celestica in the first quarter valued at about $3,152,000. Genus Capital Management Inc. lifted its position in Celestica by 129.5% during the 1st quarter. Genus Capital Management Inc. now owns 18,092 shares of the technology company’s stock valued at $1,427,000 after purchasing an additional 79,474 shares during the period. Cerity Partners LLC grew its position in shares of Celestica by 12.3% during the 1st quarter. Cerity Partners LLC now owns 11,328 shares of the technology company’s stock worth $893,000 after buying an additional 1,245 shares during the period. Sharpepoint LLC bought a new stake in shares of Celestica during the first quarter worth approximately $1,612,000. Finally, Moloney Securities Asset Management LLC lifted its holdings in Celestica by 45.4% in the first quarter. Moloney Securities Asset Management LLC now owns 8,463 shares of the technology company’s stock valued at $667,000 after buying an additional 2,643 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

About Celestica

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.