Celestica Sees Unusually High Options Volume (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of some unusual options trading activity on Thursday. Traders acquired 16,316 call options on the company. This represents an increase of 97% compared to the typical daily volume of 8,297 call options.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Securities increased their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group began coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Barclays assumed coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.82.

Celestica Price Performance

Shares of NYSE CLS traded up $13.33 during trading on Thursday, reaching $113.82. The company had a trading volume of 6,665,463 shares, compared to its average volume of 4,221,297. 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 market capitalization of $13.24 billion, a PE ratio of 36.19 and a beta of 2.25. Celestica has a twelve month low of $32.80 and a twelve month high of $131.23. The stock has a 50-day moving average price of $97.35 and a two-hundred day moving average price of $71.46.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Valeo Financial Advisors LLC purchased a new position in shares of Celestica during the 4th quarter worth $329,000. Roman Butler Fullerton & Co. acquired a new position in Celestica in the fourth quarter valued at $2,102,000. Vontobel Holding Ltd. purchased a new position in Celestica during the fourth quarter worth about $304,000. Van ECK Associates Corp boosted its stake in Celestica by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 99,684 shares of the technology company’s stock worth $9,194,000 after buying an additional 32,418 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in Celestica in the 4th quarter valued at about $237,000. 67.38% of the stock is currently owned by hedge funds and other 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.