Celestica (NYSE:CLS) Trading 6.6% Higher – What’s Next?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) were up 6.6% on Thursday . The company traded as high as $303.00 and last traded at $294.1610. Approximately 2,139,836 shares traded hands during trading, a decline of 33% from the average daily volume of 3,193,607 shares. The stock had previously closed at $275.86.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a report on Monday, January 26th. TD Securities raised their target price on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Citigroup decreased their target price on Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a report on Friday, January 30th. TD Cowen reiterated a “hold” rating on shares of Celestica in a report on Friday, January 30th. Finally, Barclays upped their price objective on shares of Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

Celestica Trading Up 7.5%

The stock has a market cap of $34.12 billion, a P/E ratio of 41.38 and a beta of 1.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The firm’s 50 day moving average price is $308.62 and its 200-day moving average price is $269.94.

Insider Activity

In related news, President Todd C. Cooper sold 89,484 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the sale, the president owned 108,970 shares in the company, valued at approximately $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 86,229 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $24,786,526.05. The disclosure for this sale is available in the SEC filing. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently modified their holdings of CLS. Golden State Wealth Management LLC lifted its holdings in Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares during the period. First Horizon Corp bought a new position in shares of Celestica in the 3rd quarter worth approximately $31,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Celestica in the fourth quarter worth approximately $38,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Celestica during the second quarter valued at approximately $40,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.