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

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of some unusual options trading on Tuesday. Stock traders acquired 5,725 call options on the stock. This represents an increase of approximately 54% compared to the average volume of 3,709 call options.

Celestica Stock Performance

Shares of CLS stock traded up $1.31 during trading on Tuesday, reaching $44.29. 844,422 shares of the company’s stock were exchanged, compared to its average volume of 2,197,562. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.28 billion, a PE ratio of 21.17 and a beta of 2.22. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12. The firm’s fifty day moving average price is $44.10 and its 200-day moving average price is $33.87.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. CIBC boosted their target price on Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their target price on Celestica from $38.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday. Canaccord Genuity Group boosted their target price on Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets boosted their target price on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus target price of $36.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. SG Americas Securities LLC acquired a new position in Celestica in the 3rd quarter valued at $318,000. Carolina Wealth Advisors LLC grew its holdings in Celestica by 6.5% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 45,587 shares of the technology company’s stock valued at $1,118,000 after buying an additional 2,800 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Celestica in the 3rd quarter valued at $285,000. Raymond James Financial Services Advisors Inc. acquired a new position in Celestica in the 3rd quarter valued at $1,191,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Celestica by 29.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock valued at $626,000 after buying an additional 5,758 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.