Celestica (NYSE:CLS) Trading Up 3.1% - Here's What Happened

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price shot up 3.1% during trading on Wednesday . The company traded as high as $72.03 and last traded at $71.01. 1,567,806 shares were traded during trading, a decline of 48% from the average session volume of 2,987,562 shares. The stock had previously closed at $68.85.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their price objective on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Royal Bank of Canada increased their price target on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target on the stock in a report on Friday, January 31st. Two equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

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Celestica Price Performance

The firm has a market cap of $9.18 billion, a P/E ratio of 21.16 and a beta of 2.09. The business has a 50-day simple moving average of $98.70 and a 200 day simple moving average of $90.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Transactions at Celestica

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the president now directly owns 110,426 shares in the company, valued at $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 SEC, which is available at this link. Also, insider Yann L. Etienvre sold 9,181 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 934,381 shares of company stock valued at $116,673,769. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares in the last quarter. FIL Ltd grew its position in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after purchasing an additional 3,406,723 shares during the period. Norges Bank purchased a new stake in Celestica during the 4th quarter valued at $139,008,000. Polar Capital Holdings Plc lifted its holdings in shares of Celestica by 822.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after buying an additional 1,433,681 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after buying an additional 1,401,877 shares during the last quarter. 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.