Celestica (NYSE:CLS) Shares Up 0.9% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) rose 0.9% on Tuesday . The stock traded as high as $79.89 and last traded at $79.49. Approximately 982,528 shares changed hands during trading, a decline of 66% from the average daily volume of 2,875,481 shares. The stock had previously closed at $78.81.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays upped their price target on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group raised their price objective 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. Finally, Royal Bank of Canada upped their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

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 market capitalization of $9.07 billion, a P/E ratio of 20.92 and a beta of 2.21. The business has a 50 day moving average of $107.40 and a 200 day moving average of $88.61.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $67,776,924.18. This trade represents a 9.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the company. Peregrine Capital Management LLC purchased a new position in Celestica during the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd boosted its stake in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter worth $42,000. R Squared Ltd purchased a new stake in shares of Celestica during the 4th quarter valued at $51,000. Finally, IFP Advisors Inc boosted 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 worth $62,000 after purchasing an additional 368 shares in the last quarter. 67.38% of the stock is owned by 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.