Celestica (NYSE:CLS) Shares Gap Up – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) gapped up before the market opened on Wednesday . The stock had previously closed at $86.59, but opened at $92.06. Celestica shares last traded at $90.22, with a volume of 1,108,179 shares traded.

Wall Street Analyst Weigh In

CLS has been the subject of a number of research analyst reports. UBS Group started coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Royal Bank of Canada increased their target price on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. TD Securities boosted their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research note on Friday, January 31st. Finally, Stifel Nicolaus boosted their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Up 5.0 %

The business has a 50 day moving average of $110.87 and a 200 day moving average of $84.37. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 24.26 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.

Insiders Place Their Bets

In related news, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the transaction, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of Celestica 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 completion of the sale, the insider now owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC acquired a new position in Celestica during the fourth quarter worth approximately $30,000. Pinpoint Asset Management Ltd grew its stake 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 period. Bessemer Group Inc. acquired a new stake in shares of Celestica during the 4th quarter worth $42,000. Private Trust Co. NA boosted its holdings in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Celestica during the fourth 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.