Celestica (NYSE:CLS) Trading Up 8.4% – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares rose 8.4% during trading on Wednesday . The stock traded as high as $115.46 and last traded at $114.98. Approximately 1,948,724 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 4,785,723 shares. The stock had previously closed at $106.11.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CLS. JPMorgan Chase & Co. started coverage on shares of Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price for the company. TD Securities upped their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Royal Bank of Canada upped their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Price Performance

The stock has a market cap of $13.16 billion, a P/E ratio of 30.36 and a beta of 2.27. 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 company has a 50 day simple moving average of $111.18 and a 200 day simple moving average of $81.51.

Insiders Place Their Bets

In other news, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the transaction, the insider now owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

A number of large investors have recently made changes to their positions in the stock. Peregrine Capital Management LLC purchased a new position in shares of Celestica in the 4th quarter worth about $30,000. Pinpoint Asset Management Ltd grew its position in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares during the period. Bessemer Group Inc. purchased a new position in shares of Celestica in the 4th quarter worth about $42,000. Private Trust Co. NA boosted its position in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Celestica in the fourth quarter worth approximately $51,000. 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.