Celestica (NYSE:CLS) Sees Strong Trading Volume – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares saw unusually-strong trading volume on Thursday . Approximately 2,638,324 shares changed hands during mid-day trading, a decline of 34% from the previous session’s volume of 4,021,195 shares.The stock last traded at $114.72 and had previously closed at $100.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CLS shares. Stifel Nicolaus increased their price objective on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Cowen raised their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group raised their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets increased their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.82.

Celestica Stock Up 13.8 %

The company has a market cap of $13.31 billion, a P/E ratio of 36.28 and a beta of 2.25. 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 firm has a fifty day moving average price of $97.35 and a 200 day moving average price of $71.46.

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction on 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 represents a 93.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of large investors have recently added to or reduced their stakes in CLS. Sei Investments Co. boosted its holdings in Celestica by 18.9% during the second quarter. Sei Investments Co. now owns 48,230 shares of the technology company’s stock worth $2,765,000 after purchasing an additional 7,670 shares during the last quarter. Ascent Group LLC bought a new position in shares of Celestica in the 2nd quarter valued at about $225,000. Creative Planning increased its position in shares of Celestica by 4.7% in the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after acquiring an additional 336 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Celestica by 54.6% during the second quarter. B. Riley Wealth Advisors Inc. now owns 22,770 shares of the technology company’s stock worth $1,305,000 after acquiring an additional 8,041 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares during the last quarter. 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.