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

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of unusually large options trading activity on Friday. Traders bought 13,088 call options on the company. This is an increase of approximately 137% compared to the average daily volume of 5,529 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CLS shares. Canaccord Genuity Group increased their price target on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. CIBC increased their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price target on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Monday, September 9th. Finally, TD Securities raised their price objective on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Celestica Trading Up 3.0 %

Celestica stock opened at $63.06 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica has a 12-month low of $20.87 and a 12-month high of $63.85. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 20.68 and a beta of 2.28. The firm has a 50 day moving average of $50.21 and a 200 day moving average of $51.37.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, research analysts predict that Celestica will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

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

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.