Traders Purchase High Volume of Call Options on Celestica (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of some unusual options trading on Thursday. Investors acquired 16,316 call options on the stock. This represents an increase of approximately 97% compared to the average daily volume of 8,297 call options.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CLS. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. TD Cowen raised their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Finally, Barclays upped their target price on Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.18.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Optimum Investment Advisors raised its holdings in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Celestica during the third quarter worth approximately $30,000. UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter valued at approximately $34,000. Private Trust Co. NA lifted its position in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Celestica during the 3rd quarter worth $51,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Stock Performance

Celestica stock opened at $114.11 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $97.80 and its 200-day moving average price is $71.75. The company has a market cap of $13.28 billion, a PE ratio of 36.22 and a beta of 2.25. Celestica has a twelve month low of $32.80 and a twelve month high of $131.23.

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.