Celestica (NYSE:CLS) Trading Up 3% – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) was up 3% on Monday . The stock traded as high as $85.95 and last traded at $81.50. Approximately 1,343,148 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 3,049,708 shares. The stock had previously closed at $79.13.

Analysts Set New Price Targets

Several analysts have recently issued reports on CLS shares. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. TD Securities boosted their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Barclays upped their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Price Performance

The company has a fifty day simple moving average of $98.70 and a 200 day simple moving average of $90.34. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 21.71 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Activity at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares in the company, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Todd C. Cooper sold 91,490 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $11,187,397.20. Following the completion of the transaction, the president now owns 175,426 shares in the company, valued at approximately $21,451,091.28. The trade was a 34.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock worth $116,673,769 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after acquiring an additional 5,574,342 shares in the last quarter. FIL Ltd boosted 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 purchasing an additional 3,406,723 shares in the last quarter. Norges Bank acquired a new stake in shares of Celestica in the 4th quarter valued at about $139,008,000. Polar Capital Holdings Plc increased its position in 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 boosted its holdings in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. 67.38% of the stock is currently 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.