Celestica (NYSE:CLS) Stock Price Up 1.3% - Here's What Happened

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS rose 1.3% during mid-day trading on Wednesday . The stock traded as high as $127.77 and last traded at $128.20. Approximately 1,398,660 shares were traded during trading, a decline of 72% from the average daily volume of 4,973,547 shares. The stock had previously closed at $126.58.

Analyst Upgrades and Downgrades

CLS has been the subject of several analyst reports. TD Securities raised their price target on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. UBS Group initiated coverage on shares of Celestica in a research note on Friday, November 22nd. They set a "neutral" rating and a $95.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 20th. CIBC raised 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. Finally, Barclays raised their price target on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.91.

Celestica Price Performance

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 firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 35.34 and a beta of 2.27. The business's fifty day simple moving average is $107.15 and its 200 day simple moving average is $77.41.

Insiders Place Their Bets

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % 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, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company's stock, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Independent Advisor Alliance grew 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 valued at $2,731,000 after buying an additional 79 shares during the last quarter. Jones Financial Companies Lllp raised 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 worth $188,000 after acquiring an additional 89 shares during the period. Pinpoint Asset Management Ltd raised its position in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after acquiring an additional 182 shares during the period. Optimum Investment Advisors raised its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Celestica by 26.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company's stock worth $67,000 after acquiring an additional 275 shares during the period. 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.