Celestica (NYSE:CLS) Stock Price Up 4.9% – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded up 4.9% during trading on Wednesday . The company traded as high as $137.78 and last traded at $138.49. 2,992,396 shares were traded during trading, a decline of 38% from the average session volume of 4,856,737 shares. The stock had previously closed at $131.98.

Wall Street Analysts Forecast Growth

CLS has been the subject of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research report on Friday, January 31st. BMO Capital Markets boosted their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, TD Securities boosted their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Trading Up 7.6 %

The stock has a market cap of $16.52 billion, a PE ratio of 37.89 and a beta of 2.27. The company’s fifty day moving average is $100.10 and its 200-day moving average is $73.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the firm’s 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 $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,790 shares of company stock worth $12,772,207 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. acquired a new position in Celestica during the 3rd quarter worth approximately $61,210,000. Whale Rock Capital Management LLC increased its holdings 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 buying an additional 975,163 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after buying an additional 301,563 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Celestica by 1,697.3% during the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after buying an additional 220,494 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd boosted its position in shares of Celestica by 53.8% during the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after acquiring an additional 183,300 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.