Celestica (NYSE:CLS) Shares Gap Up – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $87.36, but opened at $91.65. Celestica shares last traded at $91.17, with a volume of 2,142,439 shares changing hands.

Analyst Upgrades and Downgrades

CLS has been the topic of several research reports. TD Securities raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. BMO Capital Markets increased their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays initiated coverage on Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Finally, TD Cowen increased their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.45.

Celestica Stock Performance

The business’s fifty day simple moving average is $96.92 and its 200-day simple moving average is $71.01. The firm has a market cap of $10.85 billion, a P/E ratio of 29.52 and a beta of 2.25. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling

In other Celestica news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica in the third quarter worth about $61,210,000. Whale Rock Capital Management LLC boosted its position in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares during the last quarter. Natixis Advisors LLC increased its position in Celestica by 1,697.3% during the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after buying an additional 220,494 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd raised its stake in Celestica by 53.8% during the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after buying an additional 183,300 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

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.