Celestica (NYSE:CLS) Trading Up 8.4% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 8.4% during trading on Wednesday . The company traded as high as $115.46 and last traded at $114.98. Approximately 1,948,724 shares were traded during trading, a decline of 59% from the average daily volume of 4,785,723 shares. The stock had previously closed at $106.11.

Analyst Upgrades and Downgrades

CLS has been the subject of several analyst reports. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Barclays increased their price target on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group upped their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Performance

The company has a market cap of $13.16 billion, a PE ratio of 30.36 and a beta of 2.27. The company’s 50 day moving average price is $111.18 and its 200-day moving average price is $81.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Transactions at Celestica

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now owns 531,417 shares in the company, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

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