Celestica (NYSE:CLS) Shares Gap Up – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $95.95, but opened at $100.26. Celestica shares last traded at $99.43, with a volume of 390,024 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus lifted their target price 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. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective for the company. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market cap of $11.29 billion, a P/E ratio of 26.03 and a beta of 2.21. The firm has a 50-day moving average price of $109.73 and a 200-day moving average price of $87.11.

Insider Buying and Selling at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Cornerstone Wealth Management LLC bought a new stake in Celestica in the fourth quarter worth $385,000. Quantbot Technologies LP boosted its stake in Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Celestica in the fourth quarter worth approximately $47,685,000. Schechter Investment Advisors LLC bought a new stake in shares of Celestica in the fourth quarter worth approximately $294,000. Finally, XTX Topco Ltd bought a new stake in Celestica in the 3rd quarter worth approximately $1,580,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

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.