Celestica (NYSE:CLS) Stock Price Up 1.3% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) rose 1.3% on Wednesday . The company traded as high as $127.77 and last traded at $128.20. Approximately 1,398,660 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 4,973,547 shares. The stock had previously closed at $126.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLS shares. Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Canaccord Genuity Group boosted 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. TD Cowen raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Barclays raised their price target on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Stock Up 1.8 %

The stock has a market cap of $15.00 billion, a P/E ratio of 34.54 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $104.85 and a two-hundred day simple moving average of $76.10.

Insider Activity at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This 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 worth $119,142,019 in the last three months. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in Celestica by 4.7% in the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after purchasing an additional 336 shares during the period. Truist Financial Corp increased its holdings in shares of Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after acquiring an additional 214 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Celestica by 119.5% during the second quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock valued at $1,504,000 after acquiring an additional 14,305 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter worth about $34,000. Finally, Optimum Investment Advisors boosted its stake in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.