Celestica (NYSE:CLS) Trading 1.3% Higher - Still a Buy?

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

Analysts Set New Price Targets

CLS has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Celestica in a research report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 target price for the company. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Barclays increased their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, BMO Capital Markets raised their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Celestica presently has an average rating of "Moderate Buy" and a consensus price target of $104.91.

Celestica Stock Up 1.8 %

The business's 50 day moving average is $107.98 and its 200-day moving average is $78.37. 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 cap of $15.38 billion, a PE ratio of 35.34 and a beta of 2.27.

Insiders Place Their Bets

In other news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company's stock, valued at $64,981,670.76. The trade was a 45.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the transaction, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after purchasing an additional 5,574,342 shares in the last quarter. FIL Ltd boosted its position in shares of Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after buying an additional 3,406,723 shares in the last quarter. Norges Bank purchased a new stake in shares of Celestica in the 4th quarter worth about $139,008,000. Polar Capital Holdings Plc boosted its position in shares of Celestica by 822.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after buying an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after buying an additional 1,401,877 shares in the last quarter. 67.38% of the stock is 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.