Celestica (NYSE:CLS) Trading 0.4% Higher – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares rose 0.4% during trading on Thursday . The stock traded as high as $117.37 and last traded at $112.13. Approximately 2,176,752 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 4,803,787 shares. The stock had previously closed at $111.68.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $12.54 billion, a P/E ratio of 28.83 and a beta of 2.27. The stock’s fifty day simple moving average is $111.57 and its 200 day simple moving average is $81.72.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 441,325 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % 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. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the company. Peregrine Capital Management LLC purchased a new stake in Celestica during the 4th quarter worth approximately $30,000. Pinpoint Asset Management Ltd raised 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 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 about $42,000. Private Trust Co. NA raised its holdings in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Celestica during the 4th quarter worth $51,000. 67.38% of the stock is currently owned by hedge funds and other 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.