Celestica (NYSE:CLS) Trading 5.5% Higher – Should You Buy?

by · The Cerbat Gem

Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s stock price traded up 5.5% on Friday . The stock traded as high as $91.25 and last traded at $91.17. 1,088,428 shares changed 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

CLS has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays raised their target price on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. assumed coverage on Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 price target on the stock. Finally, TD Securities boosted their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.83.

View Our Latest Report on Celestica

Celestica Price Performance

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 business has a 50-day moving average of $110.69 and a 200 day moving average of $84.42. The firm has a market capitalization of $10.65 billion, a PE ratio of 24.48 and a beta of 2.21.

Insider Transactions at Celestica

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

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in CLS. Sigma Planning Corp purchased a new stake in Celestica during the third quarter worth about $420,000. Plato Investment Management Ltd purchased a new stake in shares of Celestica during the 3rd quarter worth approximately $188,000. Broad Peak Investment Advisers Pte Ltd raised its holdings in shares of Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after purchasing an additional 183,300 shares during the period. Natixis Advisors LLC lifted its stake in Celestica by 1,697.3% in the third 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 during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Celestica during the third quarter valued at $61,210,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Company Profile

(Get Free Report)

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.

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