Celestica (NYSE:CLS) Stock Price Up 3.8% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 3.8% on Friday . The stock traded as high as $86.54 and last traded at $84.75. Approximately 2,083,419 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 4,982,402 shares. The stock had previously closed at $81.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target on the stock. UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Canaccord Genuity Group boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, TD Securities lifted their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Price Performance

The company has a market cap of $10.01 billion, a PE ratio of 23.06 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $111.39 and a 200-day simple moving average of $83.28.

Insider Activity at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the 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 transaction, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock worth $119,142,019 in the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Peregrine Capital Management LLC purchased a new position in Celestica in the 4th quarter worth approximately $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 acquiring an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Celestica in the fourth quarter valued at about $42,000. Private Trust Co. NA increased its position in Celestica by 480.0% during 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 during the last quarter. Finally, R Squared Ltd purchased a new position in Celestica during the fourth quarter worth about $51,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.