Celestica (NYSE:CLS) Sees Large Volume Increase – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw unusually-high trading volume on Wednesday . Approximately 1,439,833 shares were traded during mid-day trading, a decline of 40% from the previous session’s volume of 2,405,295 shares.The stock last traded at $124.32 and had previously closed at $118.10.

Analyst Ratings Changes

A number of equities analysts have issued reports on CLS shares. Barclays assumed coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. Canaccord Genuity Group lifted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. 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 research note on Thursday, October 24th. UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. Finally, BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.45.

Celestica Trading Down 0.4 %

The firm has a 50 day simple moving average of $95.22 and a 200 day simple moving average of $69.86. 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 firm has a market capitalization of $14.29 billion, a PE ratio of 38.97 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. Celestica’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. Equities analysts expect that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC lifted its holdings in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter worth approximately $61,210,000. Dimensional Fund Advisors LP boosted its holdings in shares of Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after buying an additional 301,563 shares during the period. 67.38% of the stock is currently owned by hedge funds and other 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.