Celestica Sees Unusually High Options Volume (NYSE:CLS)

Celestica, Inc. (NYSE:CLS) (TSE:CLS) saw unusually large options trading on Monday. Stock investors bought 13,556 call options on the stock. This is an increase of approximately 16% compared to the typical volume of 11,659 call options.

Analyst Upgrades and Downgrades

CLS has been the topic of several recent research reports. TD Cowen upgraded shares of Celestica from a “hold” rating to a “buy” rating and increased their price objective for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. Rothschild & Co Redburn began coverage on shares of Celestica in a research report on Friday, May 1st. They set a “buy” rating and a $460.00 target price for the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $480.00 target price on shares of Celestica in a report on Wednesday, April 29th. Royal Bank Of Canada increased their price target on shares of Celestica from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $427.42.

Insider Activity at Celestica

In other Celestica news, CFO Mandeep Chawla sold 17,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $399.65, for a total value of $6,794,050.00. Following the transaction, the chief financial officer owned 82,444 shares of the company’s stock, valued at approximately $32,948,744.60. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Mionis sold 18,176 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $385.17, for a total value of $7,000,849.92. Following the completion of the transaction, the chief executive officer directly owned 60,384 shares in the company, valued at approximately $23,258,105.28. This represents a 23.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 161,168 shares of company stock worth $63,190,485. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Celestica by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,811,695 shares of the technology company’s stock valued at $1,423,333,000 after buying an additional 73,022 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Celestica by 24.8% in the 4th quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company’s stock worth $1,187,650,000 after buying an additional 798,782 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Celestica by 5,806,149.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock valued at $1,081,323,000 after acquiring an additional 3,657,874 shares during the period. Franklin Resources Inc. raised its holdings in Celestica by 18.6% during the fourth quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company’s stock valued at $673,471,000 after acquiring an additional 356,797 shares during the period. Finally, Cibc World Market Inc. raised its holdings in Celestica by 30.6% during the fourth quarter. Cibc World Market Inc. now owns 2,265,680 shares of the technology company’s stock valued at $670,279,000 after acquiring an additional 530,535 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Performance

CLS traded up $15.78 during midday trading on Monday, reaching $321.06. The company had a trading volume of 4,316,913 shares, compared to its average volume of 2,339,658. The business has a 50-day moving average of $362.06 and a two-hundred day moving average of $332.50. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Celestica has a 1 year low of $169.19 and a 1 year high of $474.02. The company has a market cap of $36.91 billion, a P/E ratio of 38.82, a P/E/G ratio of 0.71 and a beta of 2.05.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, April 27th. The technology company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.08. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. Celestica had a return on equity of 36.91% and a net margin of 6.95%.The firm’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. As a group, equities research analysts predict that Celestica will post 9.57 earnings per share for the current fiscal year.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.