Celestica (NYSE:CLS) Stock Price Up 6.7% – Here’s What Happened

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. UBS Group started coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research report on Friday, January 31st. Finally, Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Up 0.5 %

The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 25.69 and a beta of 2.21. 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 firm’s 50 day simple moving average is $109.74 and its 200-day simple moving average is $86.17.

Insider Transactions at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on 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 sale, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % 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 ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the business. Independent Advisor Alliance increased its holdings in shares of Celestica by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock valued at $2,731,000 after purchasing an additional 79 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Celestica by 4.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after buying an additional 89 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock valued at $162,000 after acquiring an additional 90 shares during the period. Pinpoint Asset Management Ltd boosted its stake in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Celestica by 5.5% during the 4th quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company’s stock worth $498,000 after acquiring an additional 281 shares in the last quarter. 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.