Celestica Sees Unusually Large Options Volume (NYSE:CLS)

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS saw unusually large options trading on Thursday. Stock traders bought 20,607 call options on the company. This represents an increase of 98% compared to the average volume of 10,418 call options.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of recent research reports. CIBC dropped their price target on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price objective on shares of Celestica in a research note on Monday. Barclays cut their target price on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating for the company in a research report on Monday. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.09.

Celestica Price Performance

NYSE:CLS traded down $1.35 during trading hours on Monday, hitting $87.70. The stock had a trading volume of 4,185,167 shares, compared to its average volume of 3,131,065. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 23.45 and a beta of 2.09. Celestica has a one year low of $40.25 and a one year high of $144.27. The company has a 50 day simple moving average of $89.22 and a two-hundred day simple moving average of $92.50. 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 (NYSE:CLS - Get Free Report) TSE: CLS last posted its earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The firm's revenue was up 19.9% on a year-over-year basis. Research analysts forecast that Celestica will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Mionis sold 75,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock worth $116,673,769 in the last ninety days. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC bought a new position in shares of Celestica in the 4th quarter worth $385,000. Raymond James Financial Inc. purchased a new position in Celestica in the fourth quarter worth $47,685,000. Schechter Investment Advisors LLC bought a new position in Celestica in the fourth quarter valued at $294,000. American Century Companies Inc. raised its position in Celestica by 16.4% during the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock valued at $20,217,000 after purchasing an additional 30,851 shares in the last quarter. Finally, Fruth Investment Management bought a new stake in Celestica during the fourth quarter worth about $286,000. 67.38% of the stock is owned by hedge funds and other 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.