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

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw some unusual options trading on Tuesday. Traders purchased 8,114 call options on the stock. This represents an increase of approximately 50% compared to the typical daily volume of 5,426 call options.

Celestica Trading Up 1.9 %

Celestica stock opened at $47.02 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a 52 week low of $20.87 and a 52 week high of $63.49. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 17.54 and a beta of 2.29. The stock has a 50-day moving average price of $51.15 and a 200 day moving average price of $50.51.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. Sell-side analysts anticipate that Celestica will post 3.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CLS shares. BMO Capital Markets lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Royal Bank of Canada lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Canaccord Genuity Group lifted their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday, September 9th. Finally, CIBC raised their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CLS. Principal Securities Inc. acquired a new position in Celestica in the fourth quarter valued at approximately $42,000. Dimensional Fund Advisors LP increased its position in shares of Celestica by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock worth $38,491,000 after purchasing an additional 147,417 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Celestica by 27.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 94,749 shares of the technology company’s stock worth $2,774,000 after purchasing an additional 20,642 shares in the last quarter. Norges Bank purchased a new stake in shares of Celestica during the fourth quarter worth approximately $26,755,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Celestica during the fourth quarter worth approximately $1,713,000. 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.