Celestica (NYSE:CLS) Hits New 12-Month High – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $144.27 and last traded at $143.53, with a volume of 8448756 shares traded. The stock had previously closed at $131.98.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CLS. BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Friday, January 31st. TD Cowen upped their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, TD Securities lifted their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Stock Performance

The stock has a market capitalization of $15.10 billion, a P/E ratio of 34.69 and a beta of 2.27. The company’s fifty day simple moving average is $102.31 and its 200 day simple moving average is $74.25. 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 Buying and Selling

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the transaction, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 894,381 shares of company stock worth $110,706,319 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. bought a new position in Celestica in the third quarter valued at $61,210,000. Whale Rock Capital Management LLC increased its position in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Celestica during the 4th quarter valued at about $47,685,000. Point72 Asset Management L.P. lifted its position in Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Celestica by 1,697.3% in the third 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 in the last quarter. 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.