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

Wolfe Research upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research firms have also issued reports on CLS. Barclays upped 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. UBS Group increased their price target on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Zacks Research raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $385.00 price target (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and an average target price of $356.59.

Celestica Stock Up 1.9%

CLS opened at $292.12 on Tuesday. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The firm has a market capitalization of $33.61 billion, a P/E ratio of 40.69 and a beta of 1.86. The company’s 50-day moving average is $301.50 and its 200 day moving average is $277.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88.

Insider Buying and Selling

In other news, President Jason Phillips sold 100,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $308.92, for a total value of $30,892,000.00. Following the sale, the president directly owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $324,618.95. The SEC filing for this sale provides additional information. Insiders have sold 297,923 shares of company stock valued at $88,027,459 over the last quarter. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

A number of institutional investors have recently bought and sold shares of CLS. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $1,081,323,000 after purchasing an additional 3,657,874 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after purchasing an additional 2,596,318 shares during the last quarter. Viking Global Investors LP bought a new stake in Celestica during the third quarter valued at about $424,459,000. Norges Bank purchased a new position in Celestica in the fourth quarter valued at about $456,511,000. Finally, AQR Capital Management LLC bought a new position in Celestica in the fourth quarter worth about $315,497,000. 67.38% of the stock is currently 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.