Stock Traders Purchase Large Volume of Call Options on Celestica (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of unusually large options trading on Monday. Investors purchased 8,582 call options on the stock. This represents an increase of approximately 155% compared to the typical daily volume of 3,364 call options.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Celestica from $33.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Canaccord Genuity Group lifted their price objective on shares of Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. TD Securities upped their target price on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, CIBC boosted their price objective on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.88.

Celestica Trading Down 4.8 %

Shares of Celestica stock opened at $47.05 on Wednesday. The stock has a market capitalization of $5.61 billion, a P/E ratio of 23.18 and a beta of 2.22. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The stock’s 50-day simple moving average is $42.83 and its 200 day simple moving average is $32.70.

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

Institutional Investors Weigh In On Celestica

Several institutional investors have recently made changes to their positions in CLS. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after purchasing an additional 2,054,918 shares in the last quarter. Vanguard Group Inc. grew its holdings in Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after buying an additional 562,157 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after buying an additional 1,428,071 shares during the period. Morgan Stanley increased its holdings in Celestica by 10.1% during the 4th quarter. Morgan Stanley now owns 2,315,291 shares of the technology company’s stock worth $26,093,000 after acquiring an additional 211,930 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in Celestica in the 4th quarter worth approximately $67,832,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.