Celestica Target of Unusually High Options Trading (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 5,725 call options on the stock. This is an increase of approximately 54% compared to the typical daily volume of 3,709 call options.

Celestica Stock Up 1.8 %

Shares of NYSE:CLS opened at $43.75 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The firm has a market capitalization of $5.22 billion, a PE ratio of 21.65 and a beta of 2.22. The firm’s 50-day moving average is $44.20 and its two-hundred day moving average is $33.99. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. Analysts predict that Celestica will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Celestica

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on CLS shares. Royal Bank of Canada boosted their price target on shares of Celestica from $38.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. BMO Capital Markets boosted 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. CIBC boosted 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. TD Securities boosted their price objective on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity Group boosted their price objective on shares of Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

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.