Celestica (NYSE:CLS) Trading 3.8% Higher – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) was up 3.8% during trading on Friday . The company traded as high as $86.54 and last traded at $84.75. Approximately 2,083,419 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 4,982,402 shares. The stock had previously closed at $81.62.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CLS shares. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Two 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, Celestica currently has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Trading Up 7.2 %

The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 23.39 and a beta of 2.21. The business’s fifty day simple moving average is $111.23 and its 200 day simple moving average is $83.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 9,538 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 value of $1,216,476.52. Following the sale, the president now directly owns 175,426 shares in the company, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the sale, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Peregrine Capital Management LLC purchased a new position in Celestica in the 4th quarter worth about $30,000. Pinpoint Asset Management Ltd lifted its holdings in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after buying an additional 182 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Celestica during the 4th quarter valued at about $42,000. Private Trust Co. NA lifted its holdings in shares of Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Celestica during the 4th quarter valued at about $51,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Company Profile

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.