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

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of some unusual options trading on Thursday. Stock investors purchased 20,607 call options on the stock. This represents an increase of approximately 98% compared to the typical daily volume of 10,418 call options.

Celestica Stock Up 4.1 %

Shares of Celestica stock opened at $91.81 on Friday. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 24.55 and a beta of 2.09. The business’s 50 day simple moving average is $90.89 and its 200-day simple moving average is $91.56. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica has a twelve month low of $40.25 and a twelve month high of $144.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.10). Celestica had a net margin of 4.61% and a return on equity of 23.34%. Equities research analysts forecast that Celestica will post 4.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CLS. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of Celestica from $160.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. TD Securities increased their price target on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their price objective on Celestica from $166.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.58.

Insider Activity at Celestica

In other news, CFO Mandeep Chawla sold 9,483 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,209,461.82. Following the transaction, the chief financial officer now directly owns 90,771 shares of the company’s stock, valued at $11,576,933.34. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the transaction, the president now directly owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock worth $116,673,769 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLS. Rothschild Investment LLC acquired a new position in Celestica during the first quarter valued at $26,000. ORG Partners LLC acquired a new position in shares of Celestica during the 1st quarter worth $29,000. Peregrine Capital Management LLC acquired a new position in Celestica during the fourth quarter worth $30,000. Center for Financial Planning Inc. acquired a new stake in Celestica in the 1st quarter worth approximately $30,000. Finally, Pinpoint Asset Management Ltd lifted its stake in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

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.