Celestica (NYSE:CLS) Shares Up 1.4% – What’s Next?

by · The Cerbat Gem

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) was up 1.4% during trading on Wednesday . The company traded as high as $336.31 and last traded at $332.4510. Approximately 2,578,995 shares changed hands during trading, a decline of 35% from the average daily volume of 3,986,286 shares. The stock had previously closed at $327.75.

Analysts Set New Price Targets

CLS has been the subject of several analyst reports. TD Securities boosted their target price on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group upped their price objective on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and raised their target price for the company from $212.00 to $375.00 in a research report on Monday, November 10th. Royal Bank Of Canada lifted their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $336.13.

Check Out Our Latest Research Report on CLS

Celestica Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $285.66 and a two-hundred day moving average price of $208.13. The firm has a market cap of $38.23 billion, a PE ratio of 53.97 and a beta of 1.85.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last posted its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company earned $1.04 EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. Research analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLS. Golden State Wealth Management LLC increased its holdings in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares in the last quarter. First Horizon Corp purchased a new stake in Celestica in the 3rd quarter valued at $31,000. ST Germain D J Co. Inc. acquired a new stake in shares of Celestica in the 2nd quarter worth $37,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Celestica during the 2nd quarter worth $40,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

(Get Free Report)

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.

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