Celestica (NYSE:CLS) Trading Up 4.3% – Should You Buy?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 4.3% during trading on Monday . The stock traded as high as $101.20 and last traded at $100.08. 1,231,316 shares were traded during trading, a decline of 55% from the average session volume of 2,733,695 shares. The stock had previously closed at $95.95.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of recent analyst reports. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a report on Friday, January 31st. Stifel Nicolaus lifted their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. TD Securities increased their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Barclays boosted their price objective on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 2.6 %

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 business has a fifty day simple moving average of $109.73 and a two-hundred day simple moving average of $87.11. The company has a market cap of $11.29 billion, a PE ratio of 26.03 and a beta of 2.21.

Insider Buying and Selling

In related news, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction that occurred 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 owns 110,426 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the sale, the insider now owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica in the 4th quarter valued at approximately $385,000. Quantbot Technologies LP grew its position in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after acquiring an additional 56,732 shares during the period. Raymond James Financial Inc. purchased a new position in Celestica in the fourth quarter worth approximately $47,685,000. Schechter Investment Advisors LLC acquired a new stake in Celestica during the fourth quarter worth $294,000. Finally, XTX Topco Ltd purchased a new stake in Celestica in the third quarter valued at $1,580,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.