Investors Buy Large Volume of Celestica Call Options (NYSE:CLS)

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS was the recipient of unusually large options trading on Tuesday. Stock investors bought 10,455 call options on the company. This represents an increase of 54% compared to the average daily volume of 6,796 call options.

Celestica Stock Up 4.6 %

Celestica stock traded up $3.31 during trading hours on Tuesday, hitting $75.63. The company had a trading volume of 2,874,928 shares, compared to its average volume of 2,273,309. The firm's fifty day moving average is $54.47 and its 200-day moving average is $53.42. The firm has a market capitalization of $8.97 billion, a P/E ratio of 22.96 and a beta of 2.24. Celestica has a fifty-two week low of $24.37 and a fifty-two week high of $76.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $0.65 earnings per share. Celestica's quarterly revenue was up 24.8% compared to the same quarter last year. On average, research analysts forecast that Celestica will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westover Capital Advisors LLC raised its stake in shares of Celestica by 20.9% in the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company's stock valued at $1,248,000 after acquiring an additional 3,764 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Celestica by 62.9% in the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company's stock valued at $24,548,000 after buying an additional 210,943 shares during the last quarter. Rockingstone Advisors LLC acquired a new position in Celestica during the 2nd quarter worth $2,442,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Celestica during the first quarter valued at about $1,231,000. Finally, Janus Henderson Group PLC bought a new position in shares of Celestica in the first quarter worth about $1,040,000. Institutional investors own 67.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CLS shares. TD Securities upped their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on Celestica from $53.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com downgraded shares of Celestica from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on shares of Celestica from $65.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, Barclays assumed coverage on Celestica in a research report on Tuesday. They set an "overweight" rating and a $91.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.10.

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.