Celestica (NYSE:CLS) Shares Gap Up – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $95.95, but opened at $100.26. Celestica shares last traded at $99.43, with a volume of 390,024 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CLS shares. TD Securities boosted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus upped their price target on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, 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 report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Trading Down 2.6 %

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 market cap of $11.29 billion, a P/E ratio of 26.03 and a beta of 2.21. The firm’s 50-day simple moving average is $109.73 and its 200 day simple moving average is $87.11.

Insider Buying and Selling

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 value of $1,170,944.74. Following the completion of the sale, the insider now directly 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 filing with the SEC, which is available through this link. Also, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celestica

Several large investors have recently modified their holdings of the business. Peregrine Capital Management LLC bought a new position in Celestica in the 4th quarter worth approximately $30,000. Pinpoint Asset Management Ltd lifted its position in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Celestica in the fourth quarter worth $42,000. Private Trust Co. NA grew its position in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Celestica during the 4th quarter valued at $51,000. Hedge funds and other 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.