Celestica (NYSE:CLS) Stock Price Up 0.4% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 0.4% during trading on Thursday . The stock traded as high as $117.37 and last traded at $112.13. 2,176,752 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 4,803,787 shares. The stock had previously closed at $111.68.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. started coverage on Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target on the stock. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a 50-day moving average price of $112.09 and a two-hundred day moving average price of $82.30. The stock has a market cap of $12.44 billion, a PE ratio of 28.60 and a beta of 2.27.

Insider Buying and Selling at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Several large investors have recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC purchased a new position in shares of Celestica in the 4th quarter worth approximately $30,000. Pinpoint Asset Management Ltd lifted its position in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new position in Celestica during the fourth quarter worth $42,000. R Squared Ltd bought a new position in Celestica during the fourth quarter valued at $51,000. Finally, IFP Advisors Inc raised its stake in shares of Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after acquiring an additional 368 shares during the period. 67.38% of the stock is owned by institutional investors.

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.