Celestica (NYSE:CLS) Trading 4.3% Higher – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 4.3% during mid-day trading on Monday . The company traded as high as $101.20 and last traded at $100.08. 1,231,316 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,733,695 shares. The stock had previously closed at $95.95.

Analyst Ratings Changes

A number of analysts have commented on CLS shares. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada raised 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. Finally, JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Two investment 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. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Price Performance

The firm’s 50 day moving average price is $109.74 and its two-hundred 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. The stock has a market cap of $11.67 billion, a PE ratio of 26.81 and a beta of 2.21.

Insider Buying and Selling at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction that occurred 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 approximately $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLS. FMR LLC boosted 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 valued at $1,078,804,000 after buying an additional 5,574,342 shares during the period. Whale Rock Capital Management LLC raised its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Celestica by 64.6% during the 4th 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 during the last quarter. FIL Ltd grew its holdings in shares of 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 purchasing an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. increased its position 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 purchasing an additional 494,542 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.