Celestica (NYSE:CLS) Trading Up 2.8% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 2.8% on Friday . The company traded as high as $130.21 and last traded at $128.46. 1,219,777 shares were traded during mid-day trading, a decline of 74% from the average session volume of 4,706,590 shares. The stock had previously closed at $125.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CLS shares. Stifel Nicolaus boosted their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Price Performance

The firm has a market capitalization of $13.89 billion, a P/E ratio of 31.93 and a beta of 2.27. 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 of $110.78 and a 200-day moving average of $80.39.

Insider Activity

In related news, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its position in shares of Celestica by 39.3% during the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after acquiring an additional 214,872 shares during the last quarter. Invst LLC increased its holdings in shares of Celestica by 11.7% in the 4th quarter. Invst LLC now owns 11,243 shares of the technology company’s stock worth $1,038,000 after buying an additional 1,174 shares during the last quarter. Vise Technologies Inc. increased its holdings in shares of Celestica by 100.9% in the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock worth $4,113,000 after buying an additional 22,387 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Celestica in the 4th quarter worth about $9,378,000. Finally, Tidal Investments LLC bought a new stake in shares of Celestica in the 4th quarter worth about $495,000. 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.