Celestica (NYSE:CLS) Shares Up 4.9% - Time to Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares rose 4.9% during trading on Wednesday . The stock traded as high as $137.78 and last traded at $138.49. Approximately 2,992,396 shares were traded during trading, a decline of 38% from the average daily volume of 4,856,737 shares. The stock had previously closed at $131.98.

Analyst Upgrades and Downgrades

CLS has been the topic of several research analyst reports. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. TD Securities boosted their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a research note on Friday, January 31st. TD Cowen upped their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus assumed coverage on shares of Celestica in a report on Tuesday, February 4th. They set a "buy" rating and a $140.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.27.

Celestica Trading Up 0.3 %

The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 34.79 and a beta of 2.27. The business's 50 day moving average is $104.10 and its 200 day moving average is $75.58. 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 Transactions at Celestica

In other Celestica news, President Todd C. Cooper sold 9,538 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the transaction, the president now owns 175,426 shares of the company's stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction that occurred 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 approximately $1,235,278.08. This represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC acquired a new position in Celestica in the 4th quarter valued at $30,000. Optimum Investment Advisors boosted its holdings in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Celestica in the fourth quarter valued at about $51,000. Financial Management Professionals Inc. acquired a new position in shares of Celestica during the third quarter worth about $30,000. Finally, UMB Bank n.a. purchased a new position in Celestica during the third quarter worth about $34,000. 67.38% of the stock is owned by hedge funds and other 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.