Celestica (NYSE:CLS) Stock Price Up 0.9% - Time to Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS rose 0.9% during trading on Tuesday . The stock traded as high as $79.89 and last traded at $79.49. Approximately 982,528 shares changed hands during trading, a decline of 66% from the average daily volume of 2,875,481 shares. The stock had previously closed at $78.81.

Wall Street Analysts Forecast Growth

CLS has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target for the company in a research note on Friday, January 31st. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Finally, Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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 company has a 50 day moving average of $104.73 and a 200-day moving average of $88.66. The firm has a market capitalization of $8.00 billion, a P/E ratio of 18.45 and a beta of 2.09.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares of the company's stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company's stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC bought a new position in shares of Celestica in the fourth quarter worth $30,000. Pinpoint Asset Management Ltd grew its stake in Celestica by 109.6% during 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 in the last quarter. Bessemer Group Inc. bought a new position in Celestica in the 4th quarter valued at about $42,000. R Squared Ltd acquired a new position in shares of Celestica in the 4th quarter valued at approximately $51,000. Finally, IFP Advisors Inc lifted its holdings in shares of Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock worth $62,000 after acquiring an additional 368 shares during the period. 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.