Celestica (NYSE:CLS) Trading Up 4% - Time to Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price rose 4% during trading on Tuesday . The company traded as high as $76.79 and last traded at $73.21. Approximately 2,824,691 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 2,971,353 shares. The stock had previously closed at $70.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CLS shares. Stifel Nicolaus increased 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 boosted their target price 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. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target on the stock. Royal Bank of Canada boosted their price objective on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $110.83.

Remove Ads

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company's 50 day moving average price is $98.70 and its 200-day moving average price is $90.08. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 21.16 and a beta of 2.09.

Insider Buying and Selling at Celestica

In other news, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares of the company's stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction 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 completion of the sale, the insider now owns 9,224 shares of the company's stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 934,381 shares of company stock valued at $116,673,769. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

Several large investors have recently made changes to their positions in CLS. Peregrine Capital Management LLC bought a new stake in shares of Celestica during the 4th quarter worth about $30,000. Rothschild Investment LLC bought a new position in Celestica during the first quarter valued at about $26,000. Pinpoint Asset Management Ltd raised its stake in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after purchasing an additional 182 shares in the last quarter. 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 Celestica during the fourth quarter worth about $51,000. Institutional investors 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.