Celestica (NYSE:CLS) Shares Up 1.1% - Time to Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares were up 1.1% during trading on Friday . The stock traded as high as $78.37 and last traded at $77.31. Approximately 1,346,952 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 3,026,861 shares. The stock had previously closed at $76.48.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. started coverage on Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 target price on the stock. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Stifel Nicolaus lifted their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, CIBC cut their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $108.33.

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Celestica Stock 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 has a market capitalization of $9.58 billion, a PE ratio of 22.08 and a beta of 2.09. The firm's fifty day moving average price is $97.45 and its 200 day moving average price is $90.55.

Insider Activity at Celestica

In other news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now owns 9,224 shares of the company's stock, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the transaction, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 934,381 shares of company stock valued at $116,673,769. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLS. Rothschild Investment LLC acquired a new position in Celestica in the 1st quarter valued at approximately $26,000. Peregrine Capital Management LLC acquired a new stake in Celestica during the fourth quarter worth $30,000. Pinpoint Asset Management Ltd increased its holdings in Celestica by 109.6% in the 4th 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 during the period. Bessemer Group Inc. acquired a new position in shares of Celestica in the 4th quarter valued at $42,000. Finally, R Squared Ltd bought a new position in shares of Celestica during the 4th quarter worth about $51,000. Institutional investors and hedge funds 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.