Celestica (NYSE:CLS) Stock Price Up 3.5% - Should You Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CLS shares. JPMorgan Chase & Co. initiated coverage on Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. Canaccord Genuity Group upped their target price on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Stifel Nicolaus raised their price target on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

Remove Ads

Celestica Price Performance

The business's 50-day simple moving average is $104.73 and its two-hundred day simple moving average is $88.66. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 18.45 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity at Celestica

In other news, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Mionis sold 441,325 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the transaction, the chief executive officer now owns 531,417 shares of the company's stock, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC lifted its holdings in shares of Celestica by 3.2% during the third quarter. Cerity Partners LLC now owns 10,772 shares of the technology company's stock worth $551,000 after purchasing an additional 338 shares during the period. Townsquare Capital LLC acquired a new position in Celestica during the 3rd quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Celestica by 6.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,002 shares of the technology company's stock valued at $1,380,000 after buying an additional 1,530 shares during the last quarter. Centiva Capital LP increased its stake in shares of Celestica by 15.4% in the third quarter. Centiva Capital LP now owns 11,364 shares of the technology company's stock valued at $581,000 after buying an additional 1,515 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Celestica by 10.5% during the third quarter. Janus Henderson Group PLC now owns 37,467 shares of the technology company's stock worth $1,919,000 after acquiring an additional 3,545 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

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.