Celestica (NYSE:CLS) Shares Up 3.5% – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price rose 3.5% during trading on Wednesday . The stock traded as high as $81.70 and last traded at $81.83. Approximately 919,939 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 2,886,757 shares. The stock had previously closed at $79.06.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CLS shares. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research report on Friday, January 31st. Stifel Nicolaus boosted their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Canaccord Genuity Group boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Up 5.8 %

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 $9.70 billion, a P/E ratio of 22.36 and a beta of 2.21. The stock has a fifty day moving average price of $107.40 and a two-hundred day moving average price of $88.61.

Insiders Place Their Bets

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This represents 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, CEO Robert Mionis sold 441,325 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock valued at $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of large investors have recently modified their holdings of the company. FMR LLC grew its position in 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 purchasing an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in 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 worth $432,846,000 after buying an additional 975,163 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after acquiring an additional 1,401,877 shares during the period. FIL Ltd raised its stake in Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. boosted its position in 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 during the period. 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.