Celestica (NYSE:CLS) Shares Up 2.2% - What's Next?

Key Points

• Celestica shares jumped 2.2% midday to about $327.91 (intraday high $328.58) on Thursday, with ~1.46M shares traded—down 41% versus average volume.
• Several brokers lifted targets (Aletheia to $410 buy; Barclays to $391 overweight; RBC $400 outperform), leaving an average analyst rating of Moderate Buy and a mean price target of $355.39.
• Significant insider selling has occurred recently—insiders sold 297,923 shares (~$88.0M) in the past 90 days, including large Feb. 2 sales by Yann L. Etienvre (86,229 shares) and President Todd C. Cooper (89,484 shares), with insiders now owning 0.52% of the stock.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price shot up 2.2% during mid-day trading on Thursday . The company traded as high as $328.58 and last traded at $327.9050. 1,463,032 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 2,476,373 shares. The stock had previously closed at $320.70.

Analyst Ratings Changes

A number of brokerages have issued reports on CLS. Aletheia Capital raised their price target on shares of Celestica from $330.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. TD Securities raised their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a report on Friday, January 30th. TD Cowen reissued a "hold" rating on shares of Celestica in a report on Friday, January 30th. Barclays raised their price target on shares of Celestica from $359.00 to $391.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $400.00 price objective on shares of Celestica in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $355.39.

Celestica Trading Up 2.2%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. The stock's 50-day simple moving average is $283.79 and its 200-day simple moving average is $294.02. The firm has a market capitalization of $37.70 billion, a PE ratio of 45.67 and a beta of 1.88.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 86,229 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the transaction, the president directly owned 108,970 shares in the company, valued at approximately $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Allianz Asset Management GmbH lifted its stake in shares of Celestica by 7.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company's stock worth $83,044,000 after purchasing an additional 22,863 shares during the period. Spark Investment Management LLC lifted its stake in shares of Celestica by 17.4% in the 3rd quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company's stock worth $6,643,000 after purchasing an additional 4,000 shares during the period. Light Street Capital Management LLC bought a new position in shares of Celestica in the 2nd quarter worth approximately $26,422,000. William Blair Investment Management LLC bought a new position in shares of Celestica in the 3rd quarter worth approximately $28,924,000. Finally, Spire Wealth Management lifted its stake in shares of Celestica by 354.3% in the 4th quarter. Spire Wealth Management now owns 5,979 shares of the technology company's stock worth $1,767,000 after purchasing an additional 4,663 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company's service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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