Celestica (NYSE:CLS) Shares Gap Up – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $79.13, but opened at $84.17. Celestica shares last traded at $81.45, with a volume of 927,101 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CLS shares. Canaccord Genuity Group boosted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. assumed coverage on Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Up 3.4 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a 50-day moving average price of $98.70 and a two-hundred day moving average price of $90.34. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 21.87 and a beta of 2.09.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 75,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the president now owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock valued at $116,673,769 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after buying an additional 1,401,877 shares during the period. FIL Ltd boosted its holdings in shares of Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after purchasing an additional 3,406,723 shares during the last quarter. Invesco Ltd. grew its holdings in Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after buying an additional 494,542 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Celestica by 49.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company’s stock valued at $200,601,000 after purchasing an additional 719,805 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.