Celestica (NYSE:CLS) Reaches New 52-Week High – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $144.27 and last traded at $143.53, with a volume of 8448756 shares changing hands. The stock had previously closed at $131.98.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays raised their price objective on shares of Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Finally, TD Securities increased their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two 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.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Trading Up 8.8 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market cap of $16.70 billion, a P/E ratio of 38.38 and a beta of 2.27. The stock has a 50-day moving average price of $101.31 and a 200-day moving average price of $73.83.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the sale, the president now directly owns 175,426 shares of the company’s stock, valued at $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 819,381 shares of company stock worth $100,109,569 over the last three months. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently modified their holdings of the company. Peregrine Capital Management LLC purchased a new stake in Celestica in the fourth quarter worth approximately $30,000. Optimum Investment Advisors boosted its stake in shares of Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. R Squared Ltd bought a new position in shares of Celestica during the 4th quarter valued at $51,000. Financial Management Professionals Inc. purchased a new position in Celestica in the 3rd quarter worth $30,000. Finally, UMB Bank n.a. bought a new stake in Celestica in the third quarter worth $34,000. 67.38% of the stock is currently owned by institutional investors.

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.