Celestica (NYSE:CLS) Trading 3.8% Higher – Here’s Why

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 3.8% during trading on Friday . The company traded as high as $86.54 and last traded at $84.75. 2,083,419 shares traded hands during trading, a decline of 58% from the average session volume of 4,982,402 shares. The stock had previously closed at $81.62.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CLS shares. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Barclays boosted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Trading Up 7.2 %

The company’s 50 day moving average price is $111.23 and its two-hundred day moving average price is $83.51. 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 capitalization of $10.18 billion, a PE ratio of 23.39 and a beta of 2.21.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 75,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Wilson sold 25,000 shares of the business’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 transaction, the director now owns 1,784 shares of the company’s stock, 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 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Celestica by 91.2% during the 4th 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. Whale Rock Capital Management LLC raised its position in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after buying an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after buying an additional 1,401,877 shares during the last quarter. FIL Ltd raised its position in Celestica by 5,976.1% during the 4th 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. Finally, Invesco Ltd. raised its position in Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after buying an additional 494,542 shares during the last quarter. 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.