Celestica (NYSE:CLS) Shares Up 0% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) rose 0% during trading on Friday . The company traded as high as $86.58 and last traded at $84.42. Approximately 1,224,245 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 2,771,487 shares. The stock had previously closed at $84.39.

Analyst Upgrades and Downgrades

Several research firms recently commented on CLS. Barclays raised their target price on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada increased their price target on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a report on Friday, January 31st. Finally, TD Securities lifted their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Price Performance

The business has a fifty day moving average of $108.09 and a 200 day moving average of $88.07. The firm has a market cap of $9.57 billion, a P/E ratio of 22.07 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their position. 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 three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC bought a new stake in shares of Celestica during the fourth quarter worth approximately $385,000. Raymond James Financial Inc. bought a new stake in Celestica in the 4th quarter valued at $47,685,000. Schechter Investment Advisors LLC acquired a new position in Celestica in the 4th quarter valued at $294,000. XTX Topco Ltd bought a new position in Celestica during the 3rd quarter worth $1,580,000. Finally, Fruth Investment Management acquired a new stake in shares of Celestica during the fourth quarter worth $286,000. 67.38% of the stock is owned by institutional investors.

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.