Celestica (NYSE:CLS) Given New $410.00 Price Target at JPMorgan Chase & Co.

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $360.00 to $410.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.72% from the stock’s current price.

Several other brokerages have also recently weighed in on CLS. Aletheia Capital raised 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. Canadian Imperial Bank of Commerce raised their price target on shares of Celestica from $360.00 to $425.00 and gave the stock an “outperformer” rating in a research note on Tuesday. Susquehanna began coverage on shares of Celestica in a research note on Wednesday, April 1st. They set a “positive” rating and a $375.00 price target for the company. TD Securities raised 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. Finally, TD Cowen reaffirmed a “hold” rating on shares of Celestica in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.78.

Celestica Stock Up 0.6%

Shares of CLS traded up $2.25 during mid-day trading on Thursday, hitting $384.19. 1,726,158 shares of the company’s stock were exchanged, compared to its average volume of 2,497,237. The company has a market cap of $44.17 billion, a PE ratio of 53.53 and a beta of 1.88. Celestica has a 52 week low of $78.54 and a 52 week high of $393.00. The company has a 50-day simple moving average of $291.23 and a 200 day simple moving average of $298.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88.

Insider Activity at Celestica

In other Celestica news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction 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 $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction on Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osbon Capital Management LLC acquired a new stake in shares of Celestica during the fourth quarter worth $755,000. World Investment Advisors raised its stake in Celestica by 13.2% in the fourth quarter. World Investment Advisors now owns 1,532 shares of the technology company’s stock valued at $453,000 after purchasing an additional 179 shares in the last quarter. Corient Private Wealth LLC raised its stake in Celestica by 16.3% in the fourth quarter. Corient Private Wealth LLC now owns 9,348 shares of the technology company’s stock valued at $2,764,000 after purchasing an additional 1,308 shares in the last quarter. SHP Wealth Management acquired a new position in Celestica in the fourth quarter valued at about $60,000. Finally, Tobam raised its stake in Celestica by 29.8% in the fourth quarter. Tobam now owns 2,101 shares of the technology company’s stock valued at $621,000 after purchasing an additional 482 shares in the last quarter. 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.