Celestica (NYSE:CLS) Trading 0% Higher – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded up 0% during mid-day trading on Friday . The company traded as high as $95.66 and last traded at $95.65. 946,790 shares changed hands during trading, a decline of 65% from the average session volume of 2,724,405 shares. The stock had previously closed at $95.65.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CLS. Stifel Nicolaus raised their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. UBS Group started coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. initiated coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective for the company. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Trading Up 0.5 %

The company has a market capitalization of $11.18 billion, a PE ratio of 25.75 and a beta of 2.21. The stock’s fifty day moving average price is $109.89 and its two-hundred day moving average price is $85.85. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the transaction, the chief executive officer now owns 531,417 shares in the company, valued at $64,981,670.76. This represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently modified their holdings of CLS. Peregrine Capital Management LLC bought a new stake in shares of Celestica during the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd grew its holdings in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after purchasing an additional 182 shares during the last quarter. Bessemer Group Inc. bought a new position in Celestica in the 4th quarter worth about $42,000. Private Trust Co. NA grew its stake in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after acquiring an additional 720 shares in the last quarter. Finally, R Squared Ltd bought a new position in Celestica in the 4th quarter worth about $51,000. 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.