Celestica (NYSE:CLS) Trading 0% Higher – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 0% during trading on Friday . The company traded as high as $86.58 and last traded at $84.42. 1,224,245 shares changed hands during trading, a decline of 56% from the average session volume of 2,771,487 shares. The stock had previously closed at $84.39.

Analysts Set New Price Targets

Several research analysts recently commented on CLS shares. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price for the company. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research report on Friday, January 31st. Royal Bank of Canada boosted their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Barclays increased their target price on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Performance

The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 22.06 and a beta of 2.21. The company’s 50 day simple moving average is $108.70 and its 200 day simple moving average is $87.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Activity

In related news, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now owns 9,224 shares in the company, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock worth $119,142,019 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Several large investors have recently modified their holdings of CLS. Peregrine Capital Management LLC purchased a new position in Celestica in the 4th quarter worth about $30,000. Pinpoint Asset Management Ltd increased its position in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Celestica during the fourth quarter valued at approximately $42,000. R Squared Ltd purchased a new stake in shares of Celestica in the 4th quarter valued at approximately $51,000. Finally, IFP Advisors Inc lifted its position in shares of Celestica by 122.7% in the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after acquiring an additional 368 shares in the last quarter. 67.38% of the stock is 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.