Celestica Sees Unusually Large Options Volume (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of unusually large options trading on Thursday. Stock investors acquired 16,316 call options on the stock. This represents an increase of 97% compared to the typical daily volume of 8,297 call options.

Insider Activity

In other news, Director Michael Wilson sold 25,000 shares of the firm’s 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 completion of the sale, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC acquired a new stake in shares of Celestica in the 4th quarter valued at about $385,000. Quantbot Technologies LP lifted its stake in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after buying an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Celestica in the third quarter valued at approximately $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica in the 3rd quarter valued at $420,000. Finally, Advisors Asset Management Inc. raised its position in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Stock Up 13.3 %

Shares of CLS traded up $13.33 during mid-day trading on Thursday, reaching $113.82. The company’s stock had a trading volume of 6,665,463 shares, compared to its average volume of 4,221,297. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a 12-month low of $32.80 and a 12-month high of $131.23. The stock has a market cap of $13.24 billion, a PE ratio of 36.19 and a beta of 2.25. The company’s 50 day moving average is $97.35 and its 200 day moving average is $71.46.

Analyst Ratings Changes

A number of analysts have issued reports on CLS shares. Royal Bank of Canada boosted their price target on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Stifel Nicolaus upped their target price on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group raised 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. UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. 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 research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $84.82.

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.