Celestica (NYSE:CLS) Stock Price Up 5.5% – What’s Next?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 5.5% during trading on Friday . The stock traded as high as $91.25 and last traded at $91.17. 1,088,428 shares were traded during mid-day trading, a decline of 78% from the average session volume of 5,007,937 shares. The stock had previously closed at $86.41.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. CIBC upgraded shares of 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. Stifel Nicolaus increased their price target on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

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 cap of $10.65 billion, a P/E ratio of 24.48 and a beta of 2.21. The company’s 50 day moving average is $110.69 and its 200 day moving average is $84.42.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLS. Peregrine Capital Management LLC bought a new stake in shares of Celestica in the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd boosted its holdings in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Celestica during the 4th quarter valued at approximately $42,000. Private Trust Co. NA raised its holdings in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Celestica in the 4th quarter worth approximately $51,000. 67.38% of the stock is owned by 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.