Celestica Sees Unusually High Options Volume (NYSE:CLS)

Celestica, Inc. (NYSE:CLS) (TSE:CLS) was the target of unusually large options trading on Friday. Stock traders bought 19,481 call options on the stock. This is an increase of 40% compared to the typical daily volume of 13,929 call options.

Analyst Upgrades and Downgrades

CLS has been the topic of several analyst reports. Citigroup dropped their target price on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a report on Friday, January 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $400.00 price target on shares of Celestica in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $355.39.

Celestica Stock Performance

Shares of NYSE:CLS traded up $20.57 during midday trading on Friday, reaching $348.90. 2,189,426 shares of the company’s stock traded hands, compared to its average volume of 2,472,871. The company has a market cap of $40.11 billion, a price-to-earnings ratio of 48.66 and a beta of 1.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica has a one year low of $75.15 and a one year high of $363.40. The stock has a 50 day moving average of $284.36 and a 200 day moving average of $294.26.

Insiders Place Their Bets

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $324,618.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Todd C. Cooper sold 1,065 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the completion of the sale, the president directly owned 108,970 shares in the company, valued at $30,894,084.70. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its holdings in Celestica by 7.3% in the third quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock valued at $83,044,000 after acquiring an additional 22,863 shares during the period. Spark Investment Management LLC lifted its holdings in Celestica by 17.4% in the third quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company’s stock valued at $6,643,000 after acquiring an additional 4,000 shares during the period. Light Street Capital Management LLC bought a new position in Celestica in the second quarter valued at about $26,422,000. William Blair Investment Management LLC bought a new position in Celestica in the third quarter valued at about $28,924,000. Finally, Spire Wealth Management lifted its holdings in Celestica by 354.3% in the fourth quarter. Spire Wealth Management now owns 5,979 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 4,663 shares during the period. Institutional investors own 67.38% of the company’s stock.

About Celestica

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.