Celestica (NYSE:CLS) Trading Up 3.5% – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 3.5% during mid-day trading on Wednesday . The company traded as high as $81.70 and last traded at $81.83. 919,939 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,886,757 shares. The stock had previously closed at $79.06.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays boosted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Stifel Nicolaus raised their price objective on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.67 billion, a P/E ratio of 17.68 and a beta of 2.09. The company’s 50 day moving average is $103.62 and its 200-day moving average is $88.80.

Insider Transactions at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the sale, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the transaction, the president now owns 175,426 shares in the company, valued at approximately $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Independent Advisor Alliance increased its position in shares of Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after acquiring an additional 79 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Celestica by 4.6% during the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after purchasing an additional 89 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock valued at $162,000 after purchasing an additional 90 shares during the last quarter. Pinpoint Asset Management Ltd increased its holdings in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Celestica by 5.5% in the fourth quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company’s stock worth $498,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds 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.