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

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price was up 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 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 topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Celestica in a report on Tuesday, February 4th. They set a “buy” rating and a $140.00 target price on the stock. Canaccord Genuity Group upped their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada increased their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, 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 note on Friday, January 31st. 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 MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $104.91.

Celestica Price Performance

The firm has a 50-day moving average of $107.15 and a 200 day moving average of $77.79. The company has a market capitalization of $15.38 billion, a PE ratio of 35.34 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity

In related news, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. 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 currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLS. Financial Management Professionals Inc. bought a new position in shares of Celestica in the third quarter worth about $30,000. Peregrine Capital Management LLC bought a new stake in shares of Celestica in the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd increased its stake in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Celestica during the fourth quarter valued at $42,000. Finally, Private Trust Co. NA raised its position in shares of Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares in the last quarter. 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.