Celestica (NYSE:CLS) Trading 1.8% Higher – What’s Next?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) rose 1.8% on Monday . The stock traded as high as $132.89 and last traded at $132.16. Approximately 2,707,072 shares traded hands during trading, a decline of 54% from the average daily volume of 5,877,522 shares. The stock had previously closed at $129.78.

Wall Street Analyst Weigh In

CLS has been the subject of a number of recent research reports. Stifel Nicolaus upped their price target on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Securities increased their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. CIBC raised shares of 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. TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group increased their price objective 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, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.82.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 35.22 and a beta of 2.27. The stock has a 50-day moving average price of $107.98 and a 200-day moving average price of $78.37.

Insider Activity at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the third quarter valued at approximately $30,000. Peregrine Capital Management LLC bought a new stake in shares of Celestica during the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd grew its holdings 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 purchasing an additional 182 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Celestica in the fourth quarter worth $42,000. Finally, Private Trust Co. NA raised its stake in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares in the last quarter. 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.