Celestica (NYSE:CLS) Shares Up 1.3% on Insider Buying Activity

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares shot up 1.3% during trading on Friday after an insider bought additional shares in the company. The company traded as high as $360.99 and last traded at $344.4750. 2,789,092 shares traded hands during trading, a decline of 31% from the average session volume of 4,036,488 shares. The stock had previously closed at $340.13.

Specifically, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLS. Canaccord Genuity Group upped their price target on Celestica from $126.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. The Goldman Sachs Group upped their price target on Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $385.00 price target (up previously from $230.00) on shares of Celestica in a report on Wednesday. CIBC upped their target price on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $325.13.

Celestica Trading Up 1.3%

The company has a market cap of $39.63 billion, a PE ratio of 55.92 and a beta of 1.88. The business has a 50 day simple moving average of $252.81 and a two-hundred day simple moving average of $179.07. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company posted $1.04 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLS. Norges Bank purchased a new position in shares of Celestica during the 2nd quarter worth $236,069,000. Voya Investment Management LLC raised its position in shares of Celestica by 362.8% in the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after buying an additional 1,453,473 shares during the period. Alkeon Capital Management LLC purchased a new position in shares of Celestica in the 1st quarter worth $96,936,000. SRS Investment Management LLC purchased a new position in shares of Celestica in the 2nd quarter worth $135,289,000. Finally, Alliancebernstein L.P. raised its position in shares of Celestica by 405.5% in the 1st quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after buying an additional 587,145 shares during the period. Hedge funds and other 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.