Celestica Target of Unusually Large Options Trading (NYSE:CLS)

Celestica, Inc. (NYSE:CLS) (TSE:CLS) saw some unusual options trading on Monday. Stock investors purchased 13,556 call options on the stock. This is an increase of approximately 16% compared to the typical daily volume of 11,659 call options.

Celestica Price Performance

Shares of CLS traded up $15.78 during mid-day trading on Monday, hitting $321.06. 4,316,913 shares of the stock were exchanged, compared to its average volume of 2,339,658. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $36.91 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 0.71 and a beta of 2.05. Celestica has a 52-week low of $169.19 and a 52-week high of $474.02. The firm has a 50-day moving average of $362.06 and a two-hundred day moving average of $332.50.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Monday, April 27th. The technology company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.08. Celestica had a net margin of 6.95% and a return on equity of 36.91%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the firm posted $1.20 earnings per share. Celestica’s revenue for the quarter was up 52.8% compared to the same quarter last year. On average, equities analysts predict that Celestica will post 9.57 earnings per share for the current year.

Insider Activity at Celestica

In related news, Director Michael Max Wilson sold 4,168 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $333.31, for a total value of $1,389,236.08. Following the transaction, the director directly owned 24,718 shares of the company’s stock, valued at approximately $8,238,756.58. The trade was a 14.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Robert Mionis sold 18,176 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $385.17, for a total value of $7,000,849.92. Following the completion of the transaction, the chief executive officer directly owned 60,384 shares in the company, valued at approximately $23,258,105.28. This represents a 23.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 161,168 shares of company stock valued at $63,190,485. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Celestica by 5,806,149.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock valued at $1,081,323,000 after purchasing an additional 3,657,874 shares during the last quarter. Viking Global Investors LP purchased a new stake in Celestica during the 3rd quarter valued at $424,459,000. Norges Bank bought a new stake in Celestica in the fourth quarter worth $456,511,000. AQR Capital Management LLC bought a new stake in Celestica in the fourth quarter worth $315,497,000. Finally, JPMorgan Chase & Co. lifted its position in Celestica by 24.8% in the fourth quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company’s stock worth $1,187,650,000 after buying an additional 798,782 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD upped their target price on shares of Celestica from $330.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday, April 20th. TD Securities upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $430.00 price target on the stock in a report on Wednesday, April 29th. Citigroup boosted their price target on shares of Celestica from $338.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $475.00 price objective on shares of Celestica in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Buy” and a consensus price target of $427.42.

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.