Celestica (NYSE:CLS) Shares Gap Up – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $95.95, but opened at $100.26. Celestica shares last traded at $99.43, with a volume of 390,024 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Royal Bank of Canada upped their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target for the company. Finally, Barclays increased their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Trading Up 4.9 %

The company has a market cap of $11.71 billion, a price-to-earnings ratio of 26.91 and a beta of 2.21. The business’s fifty day moving average price is $109.74 and its 200 day moving average price is $86.72. 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 related news, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently bought and sold shares of CLS. FMR LLC raised its stake in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. FIL Ltd raised its stake in Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after buying an additional 3,406,723 shares during the last quarter. Norges Bank bought a new position in Celestica during the fourth quarter worth $139,008,000. Polar Capital Holdings Plc raised its stake in Celestica by 822.6% during 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 stake in Celestica by 64.6% in 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 in the last quarter. 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.