Celestica (NYSE:CLS) Shares Gap Up - Here's Why

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price gapped up prior to trading on Monday . The stock had previously closed at $95.95, but opened at $100.26. Celestica shares last traded at $99.43, with a volume of 390,024 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus raised 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. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Canaccord Genuity Group boosted their price objective on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Celestica in a report on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.83.

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Celestica Trading Down 1.4 %

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 company has a market capitalization of $9.65 billion, a PE ratio of 22.33 and a beta of 2.21. The company's fifty day moving average is $108.70 and its 200-day moving average is $87.48.

Insider Transactions at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of the company'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 value 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. This represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their position. 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 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

A number of large investors have recently modified their holdings of the company. Independent Advisor Alliance lifted its holdings in shares of Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock worth $2,731,000 after purchasing an additional 79 shares during the period. Jones Financial Companies Lllp lifted its position in Celestica by 4.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after purchasing an additional 89 shares during the period. CoreCap Advisors LLC boosted its holdings in Celestica by 5.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock valued at $162,000 after purchasing an additional 90 shares in the last quarter. Pinpoint Asset Management Ltd increased its position in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after purchasing an additional 182 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Celestica by 5.5% during the fourth quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company's stock worth $498,000 after acquiring an additional 281 shares during the period. 67.38% of the stock is owned by hedge funds and other 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.