Celestica (NYSE:CLS) Trading 4.3% Higher – Here’s What Happened

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) rose 4.3% during trading on Monday . The stock traded as high as $101.20 and last traded at $100.08. Approximately 1,231,316 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 2,733,695 shares. The stock had previously closed at $95.95.

Analyst Ratings Changes

Several equities research analysts have recently commented on CLS shares. JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Canaccord Genuity Group boosted their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus increased their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Up 4.6 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $109.74 and a 200-day moving average of $86.72. The firm has a market cap of $11.67 billion, a P/E ratio of 26.81 and a beta of 2.21.

Insider Activity

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 441,325 shares of Celestica stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at approximately $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Celestica

Institutional investors have recently modified their holdings of the business. Cornerstone Wealth Management LLC acquired a new position in Celestica in the 4th quarter valued at $385,000. Quantbot Technologies LP grew its holdings in shares of Celestica by 120.9% during the 3rd 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. Raymond James Financial Inc. acquired a new position in shares of Celestica during the fourth quarter worth $47,685,000. Schechter Investment Advisors LLC acquired a new position in Celestica in the 4th quarter worth about $294,000. Finally, Advisors Asset Management Inc. raised its holdings in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after buying an additional 12,584 shares during the last quarter. Institutional investors 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.