Susquehanna Begins Coverage on Celestica (NYSE:CLS)

Investment analysts at Susquehanna began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued on Wednesday. The brokerage set a “positive” rating and a $375.00 price target on the technology company’s stock. Susquehanna’s target price indicates a potential upside of 32.85% from the company’s previous close.

A number of other analysts have also recently commented on CLS. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Bank of America began coverage on shares of Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 target price for the company. Citigroup dropped their price target on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Barclays boosted their target price on Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $355.39.

Celestica Price Performance

Shares of NYSE CLS opened at $282.26 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The stock’s 50-day simple moving average is $285.86 and its 200-day simple moving average is $292.35. The firm has a market capitalization of $32.45 billion, a PE ratio of 39.31 and a beta of 1.88.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $301,938.15. Following the sale, the president directly owned 108,970 shares in the company, valued at $30,894,084.70. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jason Phillips sold 100,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the sale, the president owned 12,584 shares in the company, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 297,923 shares of company stock valued at $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH boosted its position in Celestica by 7.3% during the third quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock worth $83,044,000 after acquiring an additional 22,863 shares during the last quarter. Spark Investment Management LLC lifted its stake in shares of Celestica by 17.4% in the 3rd quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company’s stock valued at $6,643,000 after purchasing an additional 4,000 shares in the last quarter. Light Street Capital Management LLC acquired a new position in Celestica during the second quarter valued at approximately $26,422,000. William Blair Investment Management LLC purchased a new stake in Celestica during the 3rd quarter worth $28,924,000. Finally, Plato Investment Management Ltd grew its stake in shares of Celestica by 154.5% in the third quarter. Plato Investment Management Ltd now owns 15,046 shares of the technology company’s stock valued at $3,676,000 after buying an additional 9,135 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.