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

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $79.13, but opened at $84.17. Celestica shares last traded at $81.45, with a volume of 927,101 shares trading hands.

Analyst Ratings Changes

CLS has been the topic of a number of analyst reports. 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. JPMorgan Chase & Co. assumed coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Stifel Nicolaus boosted their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Barclays raised their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, TD Securities boosted their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.33.

Celestica Trading Up 2.1 %

The stock has a market capitalization of $9.58 billion, a P/E ratio of 22.08 and a beta of 2.09. The stock’s fifty day moving average price is $97.45 and its two-hundred day moving average price is $90.55. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insiders Place Their Bets

In other news, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 52,588 shares of the business’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 completion of the sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at approximately $67,776,924.18. This trade represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock valued at $116,673,769 over the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in Celestica during the 1st quarter valued at $26,000. Peregrine Capital Management LLC purchased a new stake in shares of Celestica during the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd grew its stake in shares of Celestica by 109.6% in 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 during the last quarter. Bessemer Group Inc. purchased a new position in Celestica during the 4th quarter valued at about $42,000. Finally, R Squared Ltd bought a new position in Celestica during the 4th quarter valued at approximately $51,000. Institutional investors own 67.38% of the company’s stock.

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.