Celestica (NYSE:CLS) Trading Up 0% – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) was up 0% during trading on Friday . The company traded as high as $95.66 and last traded at $95.65. Approximately 946,790 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 2,724,405 shares. The stock had previously closed at $95.65.

Analyst Ratings Changes

A number of research analysts recently commented on CLS shares. Royal Bank of Canada upped their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Barclays upped their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Stifel Nicolaus upped 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. TD Securities upped 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. Finally, JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

The firm has a fifty day moving average of $109.74 and a 200-day moving average of $86.44. The firm has a market cap of $11.18 billion, a P/E ratio of 25.69 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.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares in the company, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 over the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Hedge funds have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new position in Celestica in the fourth quarter valued at about $30,000. Pinpoint Asset Management Ltd lifted its stake in Celestica by 109.6% in the fourth 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 position in Celestica in the fourth quarter valued at about $42,000. Private Trust Co. NA lifted its stake 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 buying an additional 720 shares during the period. Finally, R Squared Ltd acquired a new position in Celestica in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.