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

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of some unusual options trading activity on Tuesday. Stock traders bought 10,455 call options on the stock. This is an increase of 54% compared to the average volume of 6,796 call options.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLS. TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Securities lifted their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after purchasing an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. grew its position in Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after acquiring an additional 64,658 shares during the last quarter. Acadian Asset Management LLC grew its position in Celestica by 0.3% during the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after acquiring an additional 7,335 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

NYSE:CLS opened at $75.63 on Wednesday. The stock has a market cap of $8.97 billion, a P/E ratio of 24.01 and a beta of 2.24. 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 business’s 50-day moving average price is $54.97 and its two-hundred day moving average price is $53.67. Celestica has a twelve month low of $24.37 and a twelve month high of $76.28.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business posted $0.65 earnings per share. Celestica’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts predict that Celestica will post 3.44 EPS for the current fiscal year.

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.