Celestica (NYSE:CLS) Shares Up 0.9% – Should You Buy?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 0.9% during mid-day trading on Tuesday . The company traded as high as $79.89 and last traded at $79.49. 982,528 shares were traded during mid-day trading, a decline of 66% from the average session volume of 2,875,481 shares. The stock had previously closed at $78.81.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CLS shares. TD Securities raised their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. CIBC raised 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. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Barclays lifted their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada increased their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

The firm’s fifty day moving average is $107.40 and its 200-day moving average is $88.61. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $9.07 billion, a PE ratio of 20.92 and a beta of 2.21.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the sale, the chief executive officer now directly owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mandeep Chawla sold 9,483 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,209,461.82. Following the transaction, the chief financial officer now directly owns 90,771 shares of the company’s stock, valued at approximately $11,576,933.34. This represents a 9.46 % 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 in the last three months. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLS. Peregrine Capital Management LLC purchased a new stake in Celestica in the fourth quarter valued at $30,000. Pinpoint Asset Management Ltd increased its position in shares of Celestica by 109.6% during the fourth 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. Bessemer Group Inc. purchased a new stake in shares of Celestica in the 4th quarter valued at about $42,000. R Squared Ltd purchased a new stake in Celestica in the fourth quarter valued at approximately $51,000. Finally, IFP Advisors Inc boosted its holdings in shares of Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after acquiring an additional 368 shares during the period. 67.38% of the stock is owned by hedge funds and other 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.