Celestica (NYSE:CLS) Sees Large Volume Increase Following Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) saw unusually-strong trading volume on Thursday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. Approximately 2,638,324 shares were traded during mid-day trading, a decline of 34% from the previous session’s volume of 4,021,195 shares.The stock last traded at $114.72 and had previously closed at $100.49.

Other equities analysts also recently issued reports about the stock. UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Securities increased their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus boosted their target price on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, TD Cowen increased their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two investment 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. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus price target of $99.64.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % 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. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of institutional investors have recently added to or reduced their stakes in the stock. LMG Wealth Partners LLC increased its stake in shares of Celestica by 2.2% during the 4th quarter. LMG Wealth Partners LLC now owns 31,761 shares of the technology company’s stock valued at $2,932,000 after acquiring an additional 696 shares during the last quarter. Private Advisor Group LLC raised its stake in Celestica by 20.6% during the fourth quarter. Private Advisor Group LLC now owns 22,039 shares of the technology company’s stock worth $2,034,000 after purchasing an additional 3,763 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Celestica by 161.5% in the 4th quarter. Alberta Investment Management Corp now owns 279,791 shares of the technology company’s stock valued at $25,808,000 after purchasing an additional 172,814 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Celestica by 77.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,654 shares of the technology company’s stock valued at $153,000 after buying an additional 721 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Celestica during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 3.3 %

The firm has a market capitalization of $12.85 billion, a PE ratio of 33.04 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $98.48 and a two-hundred day moving average of $72.36.

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.