Celestica (NYSE:CLS) Trading 4.9% Higher – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 4.9% on Wednesday . The stock traded as high as $137.78 and last traded at $138.49. 2,992,396 shares were traded during mid-day trading, a decline of 38% from the average session volume of 4,856,737 shares. The stock had previously closed at $131.98.

Wall Street Analyst Weigh In

CLS has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. TD Cowen upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Securities increased 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. Stifel Nicolaus began coverage on shares of Celestica in a research note on Tuesday. They set a “buy” rating and a $140.00 price objective on the stock. Finally, Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.27.

Celestica Stock Up 7.6 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a 50-day moving average price of $100.10 and a 200 day moving average price of $73.34. The company has a market cap of $16.52 billion, a price-to-earnings ratio of 37.89 and a beta of 2.27.

Insider Activity

In other news, CEO Robert Mionis sold 52,588 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 105,790 shares of company stock worth $12,772,207. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC purchased a new position in shares of Celestica in the fourth quarter valued at $30,000. Optimum Investment Advisors increased its holdings in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the period. R Squared Ltd purchased a new stake in Celestica in the 4th quarter worth approximately $51,000. Financial Management Professionals Inc. bought a new position in Celestica in the 3rd quarter valued at $30,000. Finally, UMB Bank n.a. bought a new position in shares of Celestica in the third quarter worth $34,000. Institutional investors own 67.38% of the company’s stock.

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.