Celestica Sees Unusually High Options Volume (NYSE:CLS)

Celestica, Inc. (NYSE:CLS) (TSE:CLS) was the target of some unusual options trading activity on Thursday. Stock traders purchased 18,233 call options on the stock. This is an increase of approximately 23% compared to the typical volume of 14,876 call options.

Celestica Stock Performance

NYSE CLS traded up $11.71 during trading on Thursday, hitting $254.63. The company’s stock had a trading volume of 4,193,282 shares, compared to its average volume of 2,532,676. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $313.28 and a 200 day moving average price of $328.12. The firm has a market cap of $32.11 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.57 and a beta of 2.10. Celestica has a 52 week low of $197.50 and a 52 week high of $474.02.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.28. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.39 billion. Celestica had a net margin of 6.83% and a return on equity of 33.80%. Equities research analysts forecast that Celestica will post 10.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLS has been the topic of a number of recent analyst reports. TD set a $430.00 price objective on Celestica and gave the company a “buy” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. increased their price target on Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Scotiabank started coverage on Celestica in a report on Tuesday, August 11th. They set a “sector outperform” rating and a $500.00 price target on the stock. BWS Financial reissued a “buy” rating on shares of Celestica in a research report on Tuesday, July 28th. Finally, Sanford C. Bernstein reduced their price objective on shares of Celestica from $495.00 to $340.00 and set an “outperform” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Celestica has a consensus rating of “Buy” and a consensus target price of $445.14.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 23,396 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Todd Cooper sold 20,118 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the transaction, the president owned 73,252 shares in the company, valued at approximately $26,370,720. This trade represents a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Celestica

A number of hedge funds have recently bought and sold shares of CLS. Berkshire Capital Holdings Inc. lifted its stake in shares of Celestica by 371,900.0% in the third quarter. Berkshire Capital Holdings Inc. now owns 37,200 shares of the technology company’s stock valued at $13,445,000 after buying an additional 37,190 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Celestica during the third quarter valued at about $103,000. Rathbones Group PLC increased its stake in Celestica by 16.8% during the third quarter. Rathbones Group PLC now owns 835 shares of the technology company’s stock valued at $303,000 after acquiring an additional 120 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in Celestica by 33.3% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,000 shares of the technology company’s stock valued at $1,446,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Celestica in the 3rd quarter valued at approximately $17,400,000. 67.38% of the stock is owned by institutional investors.

About Celestica

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.