Celestica (NYSE:CLS) Reaches New 52-Week High Following Analyst Upgrade

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) hit a new 52-week high on Monday after Bank of America raised their price target on the stock from $400.00 to $430.00. Bank of America currently has a buy rating on the stock. Celestica traded as high as $404.95 and last traded at $399.5680, with a volume of 285296 shares. The stock had previously closed at $396.01.

A number of other brokerages also recently weighed in on CLS. Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen upgraded Celestica from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Canadian Imperial Bank of Commerce boosted their price objective on Celestica from $360.00 to $425.00 and gave the company an “outperformer” rating in a report on Tuesday, April 14th. Susquehanna assumed coverage on Celestica in a report on Wednesday, April 1st. They set a “positive” rating and a $375.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Celestica from $360.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday. One investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.78.

Insider Activity

In related news, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction that occurred 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 owned 12,584 shares of the company’s stock, valued at $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Todd C. Cooper sold 1,065 shares of Celestica stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $301,938.15. Following the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 297,923 shares of company stock worth $88,027,459 over the last quarter. 0.52% of the stock is currently owned by corporate insiders.

Key Celestica News

Here are the key news stories impacting Celestica this week:

• Positive Sentiment: Bank of America raised its price target to $430 and kept a “buy” rating, implying roughly an 8.4% upside from the recent price — a clear bullish catalyst for sentiment and flows. Article Title
• Positive Sentiment: Analysts and research notes (Zacks/Yahoo) highlight Celestica’s setup for an earnings beat — expectations for revenue/earnings growth are supporting buy-side confidence ahead of the report. Article Title
• Neutral Sentiment: Coverage pieces note CLS is at a 52-week high and examine whether more upside remains; that momentum attracts attention but also raises valuation-sensitivity. Article Title
• Neutral Sentiment: Sector comparison notes show Celestica outperforming some peers year-to-date, which helps relative-performance flows but may be tempered if broader tech/computer stocks rebound. Article Title
• Negative Sentiment: TD Cowen raised its target to $350 but kept a “hold,” implying an ~11.7% downside vs. the recent price; the mixed signal can limit upside from investors who follow that shop. Article Title
• Negative Sentiment: Market reaction also included a short-term dip tied to a Google-related report (noted by Seeking Alpha), showing how vendor-specific news in customers’ ecosystems can pressure shares. Article Title

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CLS. NewGen Equity Long Short Fund purchased a new position in shares of Celestica during the second quarter valued at approximately $14,050,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Celestica by 7,646.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,007 shares of the technology company’s stock valued at $157,000 after buying an additional 994 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Celestica by 30.0% during the second quarter. First Trust Advisors LP now owns 78,061 shares of the technology company’s stock valued at $12,197,000 after buying an additional 18,025 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Celestica by 385.8% during the second quarter. NewEdge Advisors LLC now owns 2,803 shares of the technology company’s stock valued at $438,000 after buying an additional 2,226 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its position in shares of Celestica by 11.0% during the second quarter. HUB Investment Partners LLC now owns 3,181 shares of the technology company’s stock valued at $497,000 after buying an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

The company has a market cap of $45.64 billion, a PE ratio of 55.38 and a beta of 1.88. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $294.75 and a 200-day moving average of $300.34.

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.