Stock Traders Purchase High Volume of Call Options on Celestica (NYSE:CLS)

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS saw unusually large options trading activity on Tuesday. Stock investors acquired 5,725 call options on the stock. This is an increase of approximately 54% compared to the average daily volume of 3,709 call options.

Celestica Price Performance

Shares of CLS traded up $0.77 during midday trading on Tuesday, hitting $43.75. 4,446,768 shares of the company traded hands, compared to its average volume of 2,224,619. The firm has a 50 day moving average of $44.20 and a 200-day moving average of $33.99. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 21.65 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. On average, analysts forecast that Celestica will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Securities upped their target price on shares of Celestica from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, January 31st. Royal Bank of Canada upped their target price on shares of Celestica from $38.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday. StockNews.com downgraded shares of Celestica from a "buy" rating to a "hold" rating in a report on Wednesday, February 28th. BMO Capital Markets increased their price objective on shares of Celestica from $37.00 to $48.00 and gave the company an "outperform" rating in a report on Monday. Finally, CIBC increased their price objective on shares of Celestica from $33.00 to $41.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.38.

Institutional Trading of Celestica

Several hedge funds have recently made changes to their positions in CLS. WCM Investment Management LLC purchased a new stake in shares of Celestica during the 4th quarter valued at about $67,832,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company's stock valued at $149,153,000 after buying an additional 2,054,918 shares in the last quarter. Shannon River Fund Management LLC purchased a new stake in shares of Celestica during the 3rd quarter valued at about $41,565,000. Point72 Asset Management L.P. raised its position in Celestica by 72.9% in the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company's stock worth $99,163,000 after purchasing an additional 1,428,071 shares during the period. Finally, Point72 Hong Kong Ltd raised its position in Celestica by 411.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company's stock worth $47,654,000 after purchasing an additional 1,309,257 shares during the period. 67.38% of the stock is currently 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.