Traders Purchase High Volume of Call Options on Celestica (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 10,455 call options on the company. This represents an increase of approximately 54% compared to the typical volume of 6,796 call options.

Celestica Stock Performance

Shares of NYSE:CLS traded up $3.54 on Tuesday, reaching $75.86. The company’s stock had a trading volume of 1,180,802 shares, compared to its average volume of 2,265,392. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a 52-week low of $24.37 and a 52-week high of $76.28. The stock’s 50-day moving average is $54.47 and its two-hundred day moving average is $53.42. The stock has a market capitalization of $9.00 billion, a P/E ratio of 22.96 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. As a group, sell-side analysts forecast that Celestica will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Westover Capital Advisors LLC boosted its holdings in Celestica by 20.9% in the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after purchasing an additional 3,764 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Celestica by 62.9% in the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after purchasing an additional 210,943 shares in the last quarter. Rockingstone Advisors LLC acquired a new stake in shares of Celestica during the 2nd quarter worth about $2,442,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Celestica during the first quarter worth about $1,231,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Celestica in the first quarter valued at approximately $1,040,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CLS shares. Barclays started coverage on Celestica in a report on Tuesday. They issued an “overweight” rating and a $91.00 target price on the stock. CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $69.10.

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.