Celestica (NYSE:CLS) Trading 6.7% Higher – Still a Buy?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 6.7% during mid-day trading on Thursday . The stock traded as high as $98.64 and last traded at $98.08. 1,764,994 shares changed hands during trading, a decline of 35% from the average session volume of 2,721,547 shares. The stock had previously closed at $91.92.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research report on Friday, January 31st. Royal Bank of Canada increased their price target on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Barclays boosted their target price on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Price Performance

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 business’s 50 day moving average price is $110.24 and its two-hundred day moving average price is $85.74. The stock has a market cap of $11.23 billion, a P/E ratio of 25.81 and a beta of 2.21.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 91,490 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $11,187,397.20. Following the sale, the president now owns 175,426 shares in the company, valued at approximately $21,451,091.28. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares of the company’s stock, valued at $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CLS. FMR LLC increased its holdings in shares of 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 in the last quarter. FIL Ltd increased its stake in Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after purchasing an additional 3,406,723 shares in the last quarter. Norges Bank bought a new stake in Celestica during the 4th quarter valued at about $139,008,000. Polar Capital Holdings Plc raised its holdings in Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after buying an additional 1,433,681 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of 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 acquiring an additional 1,401,877 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.