JPMorgan Chase & Co. Cuts Celestica (NYSE:CLS) Price Target to $105.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target reduced by JPMorgan Chase & Co. from $166.00 to $105.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 30.19% from the company’s previous close.

CLS has been the topic of several other reports. TD Securities raised their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus increased their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. CIBC dropped their price target on Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research report on Tuesday. Finally, Canaccord Genuity Group raised their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $103.25.

Celestica Stock Down 2.3 %

NYSE:CLS opened at $80.65 on Thursday. The stock has a 50-day simple moving average of $95.46 and a 200 day simple moving average of $90.43. Celestica has a one year low of $40.25 and a one year high of $144.27. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 21.56 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Transactions at Celestica

In other news, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was 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 $67,776,924.18. This trade represents a 9.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock valued at $116,673,769 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently made changes to their positions in CLS. FMR LLC lifted its holdings in shares of Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the period. FIL Ltd lifted its position in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after buying an additional 3,406,723 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after buying an additional 494,542 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Celestica by 49.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company’s stock valued at $200,601,000 after acquiring an additional 719,805 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.