Celestica (TSE:CLS) Shares Up 8.1% – Time to Buy?

Celestica Inc. (TSE:CLS) (NYSE:CLS) shares were up 8.1% during trading on Wednesday . The stock traded as high as C$164.05 and last traded at C$164.05. Approximately 188,948 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 889,650 shares. The stock had previously closed at C$151.82.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLS. BMO Capital Markets upped their price objective on Celestica from C$72.00 to C$140.00 in a research note on Thursday, January 30th. Cormark raised their price target on shares of Celestica from C$93.00 to C$137.00 in a report on Thursday, January 30th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Barclays raised shares of Celestica to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, UBS Group raised Celestica to a “hold” rating in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Celestica currently has an average rating of “Buy” and an average price target of C$96.75.

Celestica Stock Up 7.2 %

The company has a debt-to-equity ratio of 51.72, a quick ratio of 0.54 and a current ratio of 1.47. The company has a market capitalization of C$13.77 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 0.14 and a beta of 2.23. The business’s 50 day moving average is C$159.53 and its 200 day moving average is C$113.63.

Insider Activity

In other news, Senior Officer Mandeep Chawla sold 87,341 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of C$174.86, for a total value of C$15,272,532.16. Also, Director Alok K. Agrawal sold 1,550 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$119.54, for a total transaction of C$185,293.91. Insiders have sold 143,968 shares of company stock valued at $24,621,673 over the last ninety days. 1.00% of the stock is currently owned by insiders.

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.