Stock Traders Buy High Volume of Celestica Call Options (NYSE:CLS)

Celestica, Inc. (NYSE:CLS) (TSE:CLS) saw unusually large options trading activity on Friday. Traders acquired 19,481 call options on the company. This represents an increase of approximately 40% compared to the average volume of 13,929 call options.

Insider Buying and Selling

In related news, insider Yann L. Etienvre sold 1,145 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $324,618.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the sale, the president owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 297,923 shares of company stock worth $88,027,459 in the last quarter. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Celestica in the fourth quarter worth $28,000. Swiss RE Ltd. bought a new stake in shares of Celestica during the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Celestica during the 4th quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares in the last quarter. Finally, First Horizon Corp bought a new stake in shares of Celestica during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 6.8%

Shares of NYSE:CLS opened at $350.64 on Friday. The firm has a fifty day moving average price of $285.75 and a two-hundred day moving average price of $294.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. Celestica has a one year low of $75.15 and a one year high of $363.40. The company has a market cap of $40.31 billion, a price-to-earnings ratio of 48.84 and a beta of 1.88.

Analyst Upgrades and Downgrades

CLS has been the subject of several analyst reports. Aletheia Capital increased their price objective on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. TD Cowen reiterated a “hold” rating on shares of Celestica in a research note on Friday, January 30th. TD Securities increased their price objective on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Canaccord Genuity Group increased their price objective on shares of Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce decreased their price objective on shares of Celestica from $400.00 to $360.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $355.39.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.