Celestica (NYSE:CLS) Trading 5.3% Higher - Here's What Happened

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS traded up 5.3% during trading on Monday . The company traded as high as $75.10 and last traded at $69.69. 3,397,481 shares were traded during mid-day trading, an increase of 15% from the average session volume of 2,952,134 shares. The stock had previously closed at $66.15.

Analyst Ratings Changes

Several analysts recently commented on CLS shares. JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday, February 21st. They set an "overweight" rating and a $166.00 target price for the company. Royal Bank of Canada raised their price objective on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $110.83.

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Celestica Price Performance

The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $99.77 and a 200 day simple moving average of $89.88. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 21.21 and a beta of 2.09.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the sale, the chief executive officer now owns 531,417 shares of the company's stock, valued at approximately $67,776,924.18. This trade represents a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 934,381 shares of company stock valued at $116,673,769. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. Independent Advisor Alliance increased its stake in shares of Celestica by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock worth $2,731,000 after purchasing an additional 79 shares during the last quarter. Jones Financial Companies Lllp increased its position in Celestica by 4.6% during the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock worth $188,000 after buying an additional 89 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Celestica by 5.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock valued at $162,000 after buying an additional 90 shares in the last quarter. Pinpoint Asset Management Ltd raised its holdings in Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after buying an additional 182 shares in the last quarter. Finally, Bay Rivers Group lifted its position in shares of Celestica by 1.1% in the first quarter. Bay Rivers Group now owns 19,494 shares of the technology company's stock worth $1,536,000 after buying an additional 215 shares during the last quarter. 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.