Celestica (NYSE:CLS) Trading 4% Higher – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price rose 4% on Tuesday . The stock traded as high as $76.79 and last traded at $73.21. Approximately 2,824,691 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 2,971,353 shares. The stock had previously closed at $70.39.

Analyst Ratings Changes

Several brokerages recently issued reports on CLS. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target for the company. Canaccord Genuity Group increased their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada raised their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 3.0 %

The business has a 50 day simple moving average of $103.28 and a 200 day simple moving average of $89.53. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 18.12 and a beta of 2.09. 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 at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 83,179 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $10,171,128.12. Following the sale, the insider now owns 9,224 shares in the company, valued at $1,127,910.72. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock worth $116,673,769 in the last three months. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica during the fourth quarter worth $385,000. Raymond James Financial Inc. purchased a new position in shares of Celestica in the 4th quarter valued at about $47,685,000. Schechter Investment Advisors LLC acquired a new stake in shares of Celestica during the 4th quarter worth about $294,000. XTX Topco Ltd purchased a new stake in Celestica during the third quarter worth approximately $1,580,000. Finally, American Century Companies Inc. boosted its holdings in Celestica by 16.4% in the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock valued at $20,217,000 after purchasing an additional 30,851 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.