Celestica (NYSE:CLS) Sets New 1-Year High – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $144.27 and last traded at $143.53, with a volume of 8448756 shares traded. The stock had previously closed at $131.98.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays boosted their price objective on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. TD Cowen upped their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus began coverage on shares of Celestica in a report on Tuesday. They issued a “buy” rating and a $140.00 price target on the stock. UBS Group initiated coverage on shares of Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Finally, TD Securities increased their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.27.

Celestica Price Performance

The stock has a market cap of $16.70 billion, a P/E ratio of 38.38 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a 50-day moving average price of $101.31 and a 200-day moving average price of $73.83.

Insiders Place Their Bets

In related news, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company’s stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the transaction, the president now directly owns 175,426 shares of the company’s stock, valued at $22,373,832.04. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 819,381 shares of company stock worth $100,109,569. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC bought a new stake in Celestica during the 4th quarter valued at about $30,000. Optimum Investment Advisors grew its holdings in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. R Squared Ltd bought a new stake in shares of Celestica during the fourth quarter valued at approximately $51,000. Financial Management Professionals Inc. purchased a new position in Celestica in the 3rd quarter worth approximately $30,000. Finally, UMB Bank n.a. bought a new position in Celestica in the 3rd quarter valued at approximately $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.