Celestica (NYSE:CLS) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Celestica (NYSE:CLS) (TSE:CLS) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

CLS has been the topic of a number of other research reports. TD Securities lifted their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Aletheia Capital lifted their price target on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Citigroup decreased their price target 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. TD Cowen reiterated a “hold” rating on shares of Celestica in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.39.

Celestica Stock Performance

Shares of Celestica stock traded up $11.73 during midday trading on Monday, hitting $309.07. The company had a trading volume of 600,581 shares, compared to its average volume of 2,457,435. Celestica has a 1-year low of $68.83 and a 1-year high of $363.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The business’s 50 day simple moving average is $284.30 and its two-hundred day simple moving average is $293.84. The stock has a market cap of $35.53 billion, a PE ratio of 43.12 and a beta of 1.88.

Insider Activity

In other news, President Jason Phillips sold 100,000 shares of the business’s 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. The trade was a 88.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The SEC filing for this sale provides additional information. In the last quarter, insiders have 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

A number of institutional investors have recently made changes to their positions in CLS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Celestica in the fourth quarter valued at about $28,000. Swiss RE Ltd. bought a new position in shares of Celestica in the fourth quarter valued at about $29,000. Cullen Frost Bankers Inc. bought a new position in shares of Celestica in the fourth quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Celestica in the third quarter valued at about $31,000. 67.38% of the stock is owned by institutional investors.

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.