Celestica (NYSE:CLS) Trading 4.9% Higher – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded up 4.9% during mid-day trading on Wednesday . The stock traded as high as $137.78 and last traded at $138.49. 2,992,396 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 4,856,737 shares. The stock had previously closed at $131.98.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus assumed coverage on Celestica in a research report on Tuesday. They issued a “buy” rating and a $140.00 price objective on the stock. BMO Capital Markets upped their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Price Performance

The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 34.69 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $102.31 and a 200 day simple moving average of $74.25.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the sale, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 75,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 894,381 shares of company stock worth $110,706,319. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Celestica

A number of large investors have recently modified their holdings of CLS. Peregrine Capital Management LLC acquired a new stake in Celestica during the 4th quarter valued at approximately $30,000. Optimum Investment Advisors grew its stake in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. R Squared Ltd acquired a new stake in Celestica during the 4th quarter valued at approximately $51,000. Financial Management Professionals Inc. acquired a new stake in Celestica during the 3rd quarter valued at approximately $30,000. Finally, UMB Bank n.a. acquired a new stake in Celestica during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds 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.