Celestica (NYSE:CLS) Trading 4.9% Higher – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares traded up 4.9% during mid-day trading on Wednesday . The stock traded as high as $137.78 and last traded at $138.49. 2,992,396 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 4,856,737 shares. The stock had previously closed at $131.98.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted 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, CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Friday, January 31st. Two 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. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $103.27.

Celestica Stock 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 stock has a 50 day simple moving average of $102.31 and a two-hundred day simple moving average of $74.25. The company has a market cap of $15.10 billion, a PE ratio of 34.69 and a beta of 2.27.

Insider Activity

In related news, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the transaction, the chief executive officer now directly owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 894,381 shares of company stock valued at $110,706,319. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Wealth Management LLC acquired a new position in Celestica during the fourth quarter worth $385,000. Quantbot Technologies LP grew its holdings in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Celestica in the third quarter valued at $61,210,000. Sigma Planning Corp acquired a new stake in Celestica in the third quarter valued at $420,000. Finally, Advisors Asset Management Inc. grew its holdings in Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.