Celestica (NYSE:CLS) Trading 0% Higher – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) was up 0% during mid-day trading on Friday . The company traded as high as $95.66 and last traded at $95.65. Approximately 946,790 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 2,724,405 shares. The stock had previously closed at $95.65.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CLS shares. Canaccord Genuity Group raised their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price for the company. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Barclays lifted their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, UBS Group started coverage on shares of Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Two 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

The stock has a 50-day simple moving average of $109.89 and a 200-day simple moving average of $85.85. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market cap of $11.18 billion, a PE ratio of 25.75 and a beta of 2.21.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 531,417 shares in the company, valued at $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total value 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 represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently made changes to their positions in the stock. Peregrine Capital Management LLC bought a new position in shares of Celestica during the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd grew its holdings in shares of 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 purchasing an additional 182 shares during the last quarter. Bessemer Group Inc. bought a new position in Celestica in the 4th quarter worth approximately $42,000. Private Trust Co. NA grew its holdings in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after buying an additional 720 shares in the last quarter. Finally, R Squared Ltd bought a new position in Celestica in the 4th quarter worth approximately $51,000. 67.38% of the stock is owned by 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.