Celestica (NYSE:CLS) Trading 1.8% Higher – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 1.8% during mid-day trading on Monday . The stock traded as high as $132.89 and last traded at $132.16. 2,707,072 shares traded hands during trading, a decline of 54% from the average session volume of 5,877,522 shares. The stock had previously closed at $129.78.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen lifted their price objective 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. TD Securities boosted their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Barclays increased their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Two 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.82.

Celestica Stock Down 0.4 %

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 stock’s fifty day simple moving average is $107.98 and its two-hundred day simple moving average is $78.37. The stock has a market capitalization of $15.33 billion, a P/E ratio of 35.22 and a beta of 2.27.

Insider Buying and Selling

In related news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. The trade was a 42.53 % 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. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were 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 owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 over the last 90 days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in Celestica during the third quarter valued at $30,000. Peregrine Capital Management LLC acquired a new position in shares of Celestica in the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd boosted its position in shares of 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 in the last quarter. Bessemer Group Inc. acquired a new stake in Celestica during the fourth quarter worth approximately $42,000. Finally, Private Trust Co. NA increased its holdings in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares in the last quarter. 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.