Celestica (NYSE:CLS) Earns Positive Rating from Analysts at Susquehanna

Susquehanna assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued a positive rating and a $375.00 target price on the technology company’s stock.

A number of other brokerages also recently issued reports on CLS. Citigroup reduced their price objective on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Aletheia Capital boosted their target price on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Canadian Imperial Bank of Commerce cut their price target on shares of Celestica from $400.00 to $360.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Bank of America initiated coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target on the stock. Finally, Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $355.39.

Celestica Stock Down 0.1%

Shares of NYSE CLS opened at $294.69 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 52 week low of $58.05 and a 52 week high of $363.40. The stock has a market capitalization of $33.88 billion, a P/E ratio of 41.04 and a beta of 1.88. The stock’s fifty day moving average is $285.34 and its 200 day moving average is $292.66.

Insider Transactions at Celestica

In related news, insider Yann L. Etienvre sold 86,229 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Todd C. Cooper sold 89,484 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value 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 approximately $31,323,426.50. The trade was a 45.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 297,923 shares of company stock worth $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Celestica by 5,806,149.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock worth $1,081,323,000 after acquiring an additional 3,657,874 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Celestica by 471.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after acquiring an additional 2,596,318 shares during the period. Viking Global Investors LP bought a new position in shares of Celestica during the third quarter valued at $424,459,000. Norges Bank bought a new position in shares of Celestica during the fourth quarter valued at $456,511,000. Finally, AQR Capital Management LLC acquired a new position in shares of Celestica during the fourth quarter worth $315,497,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.