Celestica (NYSE:CLS) Shares Up 3.1% – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price shot up 3.1% on Tuesday . The stock traded as high as $85.32 and last traded at $83.38. 1,609,618 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 3,054,768 shares. The stock had previously closed at $80.88.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLS shares. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group increased their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. TD Securities boosted their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays lifted their price target on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus increased their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Celestica Stock Up 3.1 %

The company has a market cap of $9.67 billion, a price-to-earnings ratio of 22.29 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. The business has a 50-day simple moving average of $97.45 and a 200-day simple moving average of $90.55.

Insider Buying and Selling

In related news, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Todd C. Cooper sold 9,538 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 value of $1,216,476.52. Following the completion of the sale, the president now owns 175,426 shares in the company, valued at approximately $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock worth $116,673,769 over the last 90 days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC acquired a new position in shares of Celestica in the 4th quarter valued at $30,000. Rothschild Investment LLC purchased a new position in shares of Celestica during the first quarter worth about $26,000. Pinpoint Asset Management Ltd increased its position in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Celestica in the 4th quarter valued at about $42,000. Finally, R Squared Ltd acquired a new stake in shares of Celestica in the 4th quarter valued at about $51,000. 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.