Celestica (NYSE:CLS) Trading Up 6.7% - Still a Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price shot up 6.7% during mid-day trading on Thursday . The company traded as high as $98.64 and last traded at $98.08. 1,764,994 shares changed hands during trading, a decline of 35% from the average session volume of 2,721,547 shares. The stock had previously closed at $91.92.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group increased their price target on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price for the company 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 company a "buy" rating in a report on Tuesday, January 28th. 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 objective for the company. Finally, Stifel Nicolaus increased their target price on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.83.

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Celestica Price Performance

The company has a market capitalization of $11.74 billion, a PE ratio of 26.99 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. The stock has a 50 day moving average price of $109.74 and a two-hundred day moving average price of $86.72.

Insiders Place Their Bets

In related news, Director Michael Wilson sold 25,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction 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 represents a 93.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the business's stock in a transaction 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 transaction, the president now directly owns 110,426 shares of the company's stock, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Celestica

Several large investors have recently made changes to their positions in CLS. Wellington Management Group LLP bought a new position in Celestica in the 4th quarter worth approximately $26,965,000. Wealth Enhancement Advisory Services LLC bought a new position in Celestica during the fourth quarter worth $405,000. Park Square Financial Group LLC acquired a new position in Celestica during the 4th quarter valued at $345,000. Mackenzie Financial Corp boosted its holdings in Celestica by 39.3% in the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock valued at $70,164,000 after purchasing an additional 214,872 shares during the period. Finally, Invst LLC grew its position in Celestica by 11.7% in the 4th quarter. Invst LLC now owns 11,243 shares of the technology company's stock worth $1,038,000 after purchasing an additional 1,174 shares during the last quarter. Institutional investors and hedge funds 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.