Celestica (NYSE:CLS) Shares Gap Up - What's Next?

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS gapped up prior to trading on Monday . The stock had previously closed at $79.13, but opened at $84.17. Celestica shares last traded at $81.45, with a volume of 927,101 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on CLS shares. Royal Bank of Canada increased their price target on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Barclays increased their price target on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price 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. JPMorgan Chase & Co. began coverage on Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Celestica currently has a consensus rating of "Moderate Buy" and an average price target of $110.83.

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Celestica Price Performance

The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm's 50-day moving average price is $98.70 and its two-hundred day moving average price is $90.34. The stock has a market cap of $9.48 billion, a PE ratio of 21.87 and a beta of 2.09.

Insider Activity at Celestica

In related news, insider Yann L. Etienvre sold 83,179 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $10,171,128.12. Following the completion of the transaction, the insider now owns 9,224 shares of the company's stock, valued at $1,127,910.72. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mandeep Chawla sold 9,483 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the sale, the chief financial officer now owns 90,771 shares in the company, valued at $11,576,933.34. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock valued at $116,673,769 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Rothschild Investment LLC purchased a new position in shares of Celestica in the 1st quarter valued at about $26,000. Peregrine Capital Management LLC acquired a new stake in Celestica in the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd increased its position in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after buying an additional 182 shares in the last quarter. Bessemer Group Inc. purchased a new position in Celestica during the fourth quarter valued at $42,000. Finally, R Squared Ltd purchased a new stake in Celestica during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

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.

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