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

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $95.95, but opened at $100.26. Celestica shares last traded at $99.43, with a volume of 390,024 shares.

Analyst Ratings Changes

CLS has been the topic of several analyst reports. Barclays boosted their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target on the stock. Canaccord Genuity Group boosted their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Two equities 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 company’s stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Up 4.9 %

The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 26.91 and a beta of 2.21. The firm’s 50 day moving average price is $109.74 and its two-hundred day moving average price is $86.72. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their position. 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. 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 stock. Peregrine Capital Management LLC acquired a new position in Celestica in the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd grew its position in shares of Celestica by 109.6% during the 4th 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. acquired a new position in shares of Celestica during the 4th quarter worth approximately $42,000. R Squared Ltd acquired a new position in shares of Celestica during the 4th quarter worth approximately $51,000. Finally, IFP Advisors Inc grew its position in shares of Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after purchasing an additional 368 shares in 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.