Celestica (NYSE:CLS) Stock Price Up 5.5% – What’s Next?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 5.5% on Friday . The company traded as high as $91.25 and last traded at $91.17. 1,088,428 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 5,007,937 shares. The stock had previously closed at $86.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a research report on Friday, January 31st. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus raised their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Trading Up 6.3 %

The business has a 50 day simple moving average of $110.59 and a 200-day simple moving average of $84.95. 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 $10.68 billion, a price-to-earnings ratio of 24.55 and a beta of 2.21.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently modified their holdings of CLS. Sigma Planning Corp acquired a new position in shares of Celestica in the 3rd quarter valued at about $420,000. Plato Investment Management Ltd acquired a new position in shares of Celestica in the 3rd quarter valued at about $188,000. Natixis Advisors LLC lifted its stake in shares of Celestica by 1,697.3% in the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after purchasing an additional 220,494 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica in the 3rd quarter valued at about $61,210,000. Finally, LMR Partners LLP acquired a new position in shares of Celestica in the 3rd quarter valued at about $5,112,000. 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.