Celestica Target of Unusually High Options Trading (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw some unusual options trading on Tuesday. Investors acquired 5,725 call options on the stock. This represents an increase of 54% compared to the typical volume of 3,709 call options.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CLS shares. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada boosted their target price on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday. BMO Capital Markets boosted their target price on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday. TD Securities boosted their target price on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, CIBC boosted their target price on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $36.38.

Celestica Trading Up 1.8 %

NYSE CLS opened at $43.75 on Wednesday. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $44.20 and a 200-day moving average of $33.99. The firm has a market cap of $5.22 billion, a PE ratio of 21.65 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, sell-side analysts forecast that Celestica will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC bought a new position in Celestica during the 3rd quarter valued at approximately $32,000. Principal Securities Inc. purchased a new position in shares of Celestica during the 4th quarter worth approximately $42,000. Byrne Asset Management LLC grew its holdings in shares of Celestica by 78.6% during the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after acquiring an additional 550 shares during the period. Covestor Ltd purchased a new position in shares of Celestica during the 3rd quarter worth approximately $68,000. Finally, Blue Trust Inc. grew its holdings in shares of Celestica by 128.6% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,384 shares during the period. Institutional investors own 67.38% of the company’s stock.

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.