Celestica (NYSE:CLS) Trading 3.1% Higher – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 3.1% during trading on Tuesday . The stock traded as high as $85.32 and last traded at $83.38. Approximately 1,609,618 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 3,054,768 shares. The stock had previously closed at $80.88.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Canaccord Genuity Group increased their target price on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada raised their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus lifted their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $103.25.

Celestica Trading Down 1.5 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $95.46 and a 200-day moving average price of $90.43. The firm has a market capitalization of $9.20 billion, a P/E ratio of 21.17 and a beta of 2.09.

Insider Activity at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares in the company, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 934,381 shares of company stock valued at $116,673,769 over the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Celestica by 66.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,334 shares of the technology company’s stock worth $578,000 after purchasing an additional 2,941 shares in the last quarter. NewGen Asset Management Ltd bought a new stake in Celestica in the 1st quarter valued at $5,517,000. Assenagon Asset Management S.A. bought a new position in Celestica during the 1st quarter worth about $415,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Celestica by 8.9% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 53,700 shares of the technology company’s stock valued at $4,232,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Celestica by 20.3% during the first quarter. Harbor Capital Advisors Inc. now owns 25,550 shares of the technology company’s stock worth $2,014,000 after buying an additional 4,320 shares in the last quarter. 67.38% of the stock is currently owned by 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.