Celestica (NYSE:CLS) Stock Price Up 0.4% – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price was up 0.4% during mid-day trading on Thursday . The company traded as high as $117.37 and last traded at $112.13. Approximately 2,176,752 shares were traded during trading, a decline of 55% from the average daily volume of 4,803,787 shares. The stock had previously closed at $111.68.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CLS shares. TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus lifted their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. Finally, Canaccord Genuity Group increased their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock 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 firm has a market capitalization of $12.44 billion, a P/E ratio of 28.60 and a beta of 2.27. The business’s 50 day simple moving average is $112.09 and its two-hundred day simple moving average is $82.30.

Insider Activity at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in Celestica in the 4th quarter worth approximately $345,000. Mackenzie Financial Corp grew its holdings in shares of Celestica by 39.3% in the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after acquiring an additional 214,872 shares during the period. Invst LLC increased its position in Celestica by 11.7% during the fourth quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after acquiring an additional 1,174 shares during the last quarter. Vise Technologies Inc. increased its position in Celestica by 100.9% during the fourth quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock valued at $4,113,000 after acquiring an additional 22,387 shares during the last quarter. Finally, Castleark Management LLC bought a new position in Celestica in the fourth quarter valued at about $9,378,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.