Celestica (NYSE:CLS) Trading Up 0.4% – Here’s Why

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CLS shares. JPMorgan Chase & Co. initiated coverage on Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Barclays raised their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Securities upped their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group lifted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Down 3.5 %

The business’s 50-day simple moving average is $111.57 and its 200-day simple moving average is $81.72. 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 company has a market cap of $12.54 billion, a PE ratio of 28.83 and a beta of 2.27.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the 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 owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction 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 sale, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock worth $119,142,019 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC lifted its holdings in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the period. FIL Ltd grew its holdings in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after buying an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. increased its position in Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after buying an additional 494,542 shares during the period. Institutional investors 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.