Celestica (NYSE:CLS) Stock Price Up 4.3% – Here’s What Happened

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 4.3% on Monday . The stock traded as high as $101.20 and last traded at $100.08. 1,231,316 shares were traded during 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 brokerages have weighed in on CLS. Canaccord Genuity Group lifted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Stifel Nicolaus lifted their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. assumed coverage on Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Two research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Down 2.6 %

The firm has a market cap of $11.29 billion, a PE ratio of 26.03 and a beta of 2.21. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $109.73 and a 200-day moving average price of $87.11.

Insider Buying and Selling

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted 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 purchasing an additional 5,574,342 shares during the last quarter. FIL Ltd lifted its position in shares of 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. Norges Bank acquired a new position in shares of Celestica in the 4th quarter valued at $139,008,000. Polar Capital Holdings Plc boosted its holdings in shares of Celestica by 822.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock valued at $148,416,000 after buying an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Celestica by 64.6% in 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 buying an additional 1,401,877 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.