Celestica (NYSE:CLS) Trading 1.8% Higher – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares rose 1.8% on Monday . The stock traded as high as $132.89 and last traded at $132.16. Approximately 2,707,072 shares changed hands during mid-day 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 Analysts Forecast Growth

Several analysts have recently issued reports on CLS shares. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. TD Cowen raised their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. 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. Finally, TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $104.91.

Celestica Price Performance

The business’s fifty day moving average price is $107.15 and its 200-day moving average price is $77.79. The company has a market capitalization of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of the firm’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 in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company’s stock, valued at $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Large investors have recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of 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 period. Stratos Wealth Advisors LLC raised its position in Celestica by 20.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,200 shares of the technology company’s stock valued at $215,000 after purchasing an additional 700 shares during the last quarter. Blue Trust Inc. lifted its holdings in Celestica by 97.3% in the 3rd quarter. Blue Trust Inc. now owns 14,433 shares of the technology company’s stock worth $738,000 after buying an additional 7,119 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Celestica by 63.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 158,242 shares of the technology company’s stock worth $8,089,000 after buying an additional 61,135 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in shares of Celestica by 8.4% during the third quarter. Whittier Trust Co. now owns 7,867 shares of the technology company’s stock valued at $402,000 after buying an additional 608 shares during the period. Institutional investors own 67.38% of the company’s stock.

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.