Celestica (NYSE:CLS) Trading 6.7% Higher – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price was up 6.7% on Thursday . The stock traded as high as $98.64 and last traded at $98.08. Approximately 1,764,994 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 2,721,547 shares. The stock had previously closed at $91.92.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Stifel Nicolaus boosted their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target for the company. Finally, Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two equities research 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’s stock. According to MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

The business’s fifty day simple moving average is $110.24 and its 200-day simple moving average is $85.74. 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 market capitalization of $11.23 billion, a PE ratio of 25.81 and a beta of 2.21.

Insider Activity at Celestica

In related news, CFO Mandeep Chawla sold 9,483 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,209,461.82. Following the completion of the transaction, the chief financial officer now directly owns 90,771 shares of the company’s stock, valued at approximately $11,576,933.34. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now directly owns 456,417 shares in the company, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after buying an additional 1,401,877 shares during the period. FIL Ltd lifted its stake in shares of Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after acquiring an additional 3,406,723 shares during the last quarter. Finally, Invesco Ltd. grew its position in Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after acquiring an additional 494,542 shares during the last quarter. Hedge funds and other 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.