Celestica Sees Unusually High Options Volume (NYSE:CLS)

Key Points

• Investors bought 19,481 call options on Celestica (about 40% above typical daily call volume) as the stock jumped roughly 6.3% to $348.90 during midday trading.
• Analysts have grown bullish—several firms (Bank of America, Canaccord, Aletheia, Wall Street Zen) issued or raised "buy" ratings and price targets—leaving a MarketBeat consensus of "Moderate Buy" with a consensus target of $355.39.
• Insiders have been net sellers: President Todd C. Cooper sold 89,484 shares and another insider sold 86,229 on Feb 2, with insiders disposing of 297,923 shares (~$88.0M) in the past 90 days, while insiders still own 0.52% of the company.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS was the target of unusually large options trading on Friday. Investors bought 19,481 call options on the company. This is an increase of 40% compared to the typical daily volume of 13,929 call options.

Celestica Stock Up 6.3%

CLS stock traded up $20.57 during midday trading on Friday, hitting $348.90. The stock had a trading volume of 2,189,426 shares, compared to its average volume of 2,472,871. The firm has a market cap of $40.11 billion, a price-to-earnings ratio of 48.66 and a beta of 1.88. The business has a 50-day moving average of $284.36 and a two-hundred day moving average of $294.26. Celestica has a 52-week low of $75.15 and a 52-week high of $363.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Zacks Research cut Celestica from a "strong-buy" rating to a "hold" rating in a research note on Monday. Bank of America assumed coverage on Celestica in a research note on Wednesday, January 28th. They set a "buy" rating and a $400.00 target price on the stock. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Canaccord Genuity Group boosted their target price on Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Finally, Aletheia Capital boosted their target price on Celestica from $330.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Celestica currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.39.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the transaction, the president directly owned 108,970 shares of the company's stock, valued at $31,323,426.50. The trade was a 45.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yann L. Etienvre sold 86,229 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $24,786,526.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last ninety days. Company insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Celestica during the 4th quarter valued at about $28,000. Swiss RE Ltd. purchased a new position in Celestica during the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. purchased a new position in Celestica during the 4th quarter valued at about $30,000. Sittner & Nelson LLC purchased a new position in Celestica during the 4th quarter valued at about $31,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock worth $31,000 after acquiring an additional 37 shares in the last quarter. 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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