Celestica (NYSE:CLS) Trading 5.5% Higher – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price rose 5.5% during trading on Friday . The stock traded as high as $91.25 and last traded at $91.17. Approximately 1,088,428 shares traded hands during trading, a decline of 78% from the average daily volume of 5,007,937 shares. The stock had previously closed at $86.41.

Analyst Upgrades and Downgrades

CLS has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Finally, UBS Group began coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. Two research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Trading Up 6.3 %

The company has a market cap of $10.68 billion, a price-to-earnings ratio of 24.55 and a beta of 2.21. The firm has a 50-day moving average price of $110.59 and a 200 day moving average price of $84.95. 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 Transactions at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the transaction, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new position in Celestica during the 4th quarter valued at approximately $30,000. Pinpoint Asset Management Ltd boosted its position in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after purchasing an additional 182 shares during the period. Bessemer Group Inc. acquired a new position in Celestica during the 4th quarter valued at approximately $42,000. R Squared Ltd acquired a new position in Celestica during the 4th quarter valued at approximately $51,000. Finally, IFP Advisors Inc boosted its position in Celestica by 122.7% during the 4th 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. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.