Traders Buy High Volume of Celestica Call Options (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw some unusual options trading on Thursday. Stock traders bought 16,316 call options on the stock. This is an increase of approximately 97% compared to the typical volume of 8,297 call options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CLS shares. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday. Stifel Nicolaus boosted their price target on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Canaccord Genuity Group boosted their price objective 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 upped their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.64.

Celestica Stock Performance

NYSE:CLS opened at $112.18 on Monday. 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 stock has a market cap of $13.05 billion, a P/E ratio of 29.52 and a beta of 2.27. The business’s 50-day moving average price is $98.48 and its two-hundred day moving average price is $72.36. Celestica has a twelve month low of $35.56 and a twelve month high of $133.66.

Insider Activity

In other news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The stock was 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 owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently modified their holdings of the company. Peregrine Capital Management LLC bought a new position in Celestica during the 4th quarter worth approximately $30,000. Optimum Investment Advisors grew its position in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. R Squared Ltd purchased a new stake in Celestica in the 4th quarter worth approximately $51,000. Financial Management Professionals Inc. purchased a new stake in Celestica in the 3rd quarter worth approximately $30,000. Finally, UMB Bank n.a. purchased a new stake in Celestica in the 3rd quarter worth approximately $34,000. 67.38% of the stock is currently owned by institutional investors.

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.