Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price shot up 4.3% during mid-day trading on Monday . The company traded as high as $101.20 and last traded at $100.08. 1,231,316 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,733,695 shares. The stock had previously closed at $95.95.
Wall Street Analyst Weigh In
CLS has been the subject of several recent research reports. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a report on Friday, January 31st. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Barclays boosted their target price on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and an average price target of $110.83.
Read Our Latest Report on CLS
Celestica Stock Performance
The company's 50-day moving average price is $108.70 and its two-hundred day moving average price is $87.48. The stock has a market cap of $9.47 billion, a PE ratio of 21.85 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.
Insiders Place Their Bets
In other news, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction dated 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 transaction, the president now directly owns 110,426 shares of the company's stock, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company's stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in CLS. Peregrine Capital Management LLC bought a new stake in Celestica in the 4th quarter worth $30,000. Pinpoint Asset Management Ltd boosted its holdings in shares of 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 period. Bessemer Group Inc. bought a new stake in shares of Celestica in the fourth quarter worth about $42,000. Private Trust Co. NA raised its position in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after purchasing an additional 720 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Celestica in the 4th quarter worth approximately $51,000. Institutional investors own 67.38% of the company's stock.
About Celestica
(
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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.
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