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

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS was the recipient of some unusual options trading on Wednesday. Stock investors bought 6,858 call options on the stock. This represents an increase of approximately 63% compared to the average daily volume of 4,215 call options.

Celestica Stock Performance

CLS traded up $4.05 during midday trading on Wednesday, hitting $52.05. 4,958,279 shares of the company were exchanged, compared to its average volume of 2,290,204. The company's 50 day simple moving average is $45.73 and its 200 day simple moving average is $36.34. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 19.42 and a beta of 2.25. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. Celestica has a 1-year low of $10.96 and a 1-year high of $52.46.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CLS. StockNews.com lowered Celestica from a "buy" rating to a "hold" rating in a report on Wednesday, February 28th. TD Securities raised their target price on Celestica from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Stifel Nicolaus raised their target price on Celestica from $48.00 to $51.00 and gave the stock a "hold" rating in a research note on Monday. CIBC restated a "neutral" rating and issued a $49.00 target price (up previously from $41.00) on shares of Celestica in a research note on Friday, April 26th. Finally, Canaccord Genuity Group raised their target price on Celestica from $48.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.56.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently modified their holdings of CLS. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Celestica during the 3rd quarter valued at about $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Celestica by 29.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company's stock worth $626,000 after buying an additional 5,758 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Celestica by 10.5% in the 3rd quarter. CIBC Asset Management Inc now owns 107,166 shares of the technology company's stock worth $2,631,000 after buying an additional 10,172 shares during the last quarter. Kendall Capital Management acquired a new stake in Celestica in the 3rd quarter worth about $634,000. Finally, Genus Capital Management Inc. boosted its holdings in Celestica by 41.3% in the 3rd quarter. Genus Capital Management Inc. now owns 140,495 shares of the technology company's stock worth $3,454,000 after buying an additional 41,080 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.