Celestica Sees Unusually Large Options Volume (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 8,114 call options on the stock. This represents an increase of 50% compared to the typical daily volume of 5,426 call options.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, September 9th. BMO Capital Markets lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Finally, Royal Bank of Canada increased their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Celestica Stock Up 1.6 %

Shares of NYSE:CLS traded up $0.72 on Tuesday, hitting $46.86. 587,212 shares of the company’s stock were exchanged, compared to its average volume of 2,277,156. Celestica has a 1-year low of $20.87 and a 1-year high of $63.49. The company has a market capitalization of $5.57 billion, a PE ratio of 17.22 and a beta of 2.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The firm’s 50-day moving average is $51.40 and its 200 day moving average is $50.50.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Sell-side analysts predict that Celestica will post 3.22 EPS for the current year.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently made changes to their positions in CLS. Principal Securities Inc. purchased a new stake in Celestica in the fourth quarter valued at approximately $42,000. Dimensional Fund Advisors LP boosted its stake in Celestica by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock worth $38,491,000 after purchasing an additional 147,417 shares during the period. Janney Montgomery Scott LLC grew its position in Celestica by 27.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 94,749 shares of the technology company’s stock worth $2,774,000 after purchasing an additional 20,642 shares during the last quarter. Norges Bank acquired a new position in Celestica in the fourth quarter valued at $26,755,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Celestica in the fourth quarter valued at $1,713,000. Institutional investors and hedge funds 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.