Celestica (NYSE:CLS) Trading Up 2.8% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) was up 2.8% on Friday . The stock traded as high as $130.21 and last traded at $128.46. Approximately 1,219,777 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 4,706,590 shares. The stock had previously closed at $125.02.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CLS shares. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday. They issued an “overweight” rating and a $166.00 price target for the company. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays lifted their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Down 4.5 %

The company has a market cap of $13.89 billion, a P/E ratio of 31.93 and a beta of 2.27. The company has a 50 day moving average of $110.78 and a 200-day moving average of $80.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity at Celestica

In other Celestica news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction dated 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 directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 959,381 shares of company stock valued at $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently added to or reduced their stakes in CLS. Creative Planning lifted its stake in Celestica by 36.1% during the third quarter. Creative Planning now owns 10,240 shares of the technology company’s stock worth $523,000 after purchasing an additional 2,714 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Celestica by 63.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 158,242 shares of the technology company’s stock worth $8,089,000 after purchasing an additional 61,135 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Celestica in the 3rd quarter valued at about $934,000. Global Trust Asset Management LLC bought a new stake in shares of Celestica in the 3rd quarter valued at about $51,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of Celestica in the 3rd quarter valued at about $30,000. 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.