Celestica (NYSE:CLS) Shares Up 2.8% – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price shot up 2.8% during trading on Friday . The stock traded as high as $130.21 and last traded at $128.46. 1,219,777 shares were traded during trading, a decline of 74% from the average session volume of 4,706,590 shares. The stock had previously closed at $125.02.

Analyst Upgrades and Downgrades

Several research firms have commented on CLS. Royal Bank of Canada raised their target price on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. UBS Group assumed coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets lifted their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Price Performance

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 company’s 50 day moving average price is $110.38 and its 200 day moving average price is $79.66. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 31.96 and a beta of 2.27.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of Celestica 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 completion of the sale, the insider now owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of Celestica 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 sale, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $329,460,000 after purchasing an additional 1,401,877 shares in the last quarter. FIL Ltd raised its stake in Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after purchasing an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Celestica by 20.2% in the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after purchasing an additional 494,542 shares in the last quarter. Institutional investors and hedge funds 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.