Celestica (NYSE:CLS) Shares Up 0.9% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares shot up 0.9% during trading on Tuesday . The stock traded as high as $79.89 and last traded at $79.49. 982,528 shares changed hands during trading, a decline of 66% from the average session volume of 2,875,481 shares. The stock had previously closed at $78.81.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CLS. Canaccord Genuity Group increased their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays upped their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

The stock’s fifty day simple moving average is $105.80 and its 200-day simple moving average is $88.80. 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 company has a market capitalization of $9.56 billion, a PE ratio of 22.04 and a beta of 2.21.

Insider Buying and Selling

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the sale, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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

Several hedge funds have recently modified their holdings of the company. Peregrine Capital Management LLC acquired a new position in shares of Celestica in the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd raised its holdings in Celestica by 109.6% in the 4th 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 during the last quarter. Bessemer Group Inc. purchased a new position in shares of Celestica during the 4th quarter worth $42,000. R Squared Ltd acquired a new stake in shares of Celestica during the fourth quarter worth $51,000. Finally, IFP Advisors Inc grew its position in shares of Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after purchasing an additional 368 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.