Celestica (NYSE:CLS) Shares Up 3.5% - Here's Why

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price traded up 3.5% during mid-day trading on Wednesday . The stock traded as high as $81.70 and last traded at $81.83. 919,939 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,886,757 shares. The stock had previously closed at $79.06.

Analyst Ratings Changes

CLS has been the topic of several research analyst reports. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.83.

Celestica Trading Down 4.4 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 17.68 and a beta of 2.09. The business's fifty day moving average is $103.62 and its 200 day moving average is $88.80.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Yann L. Etienvre sold 9,181 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 in the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Independent Advisor Alliance increased 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 worth $2,731,000 after buying an additional 79 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Celestica by 4.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after buying an additional 89 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Celestica by 5.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock valued at $162,000 after purchasing an additional 90 shares in the last quarter. Pinpoint Asset Management Ltd boosted its holdings 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 purchasing an additional 182 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Celestica by 5.5% in the fourth quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company's stock worth $498,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 67.38% of the company's stock.

About Celestica

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.