Celestica (NYSE:CLS) Shares Up 2.8% – Time to Buy?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 2.8% during trading on Friday . The company traded as high as $130.21 and last traded at $128.46. 1,219,777 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 4,706,590 shares. The stock had previously closed at $125.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus boosted their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted 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. JPMorgan Chase & Co. assumed coverage on Celestica in a research note on Friday. They set an “overweight” rating and a $166.00 target price for the company. Finally, CIBC raised 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 investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 4.5 %

The stock has a 50 day simple moving average of $110.38 and a 200-day simple moving average of $79.66. The firm has a market cap of $13.89 billion, a PE ratio of 31.96 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 Transactions at Celestica

In other news, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares in the company, valued at $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

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