Celestica (NYSE:CLS) Stock Price Up 3.5% – What’s Next?

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s share price shot up 3.5% on Friday . The stock traded as high as $344.78 and last traded at $343.7860. 1,524,808 shares were traded during mid-day trading, a decline of 62% from the average session volume of 3,975,538 shares. The stock had previously closed at $332.24.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. CICC Research started coverage on shares of Celestica in a report on Tuesday, August 19th. They set an “outperform” rating on the stock. Wall Street Zen upgraded Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. TD Cowen reiterated a “hold” rating and set a $238.00 price objective on shares of Celestica in a report on Friday, October 3rd. Royal Bank Of Canada upped their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Citigroup upgraded shares of Celestica from a “neutral” rating to a “buy” rating and raised their target price for the stock from $212.00 to $375.00 in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $336.13.

Check Out Our Latest Report on CLS

Celestica Price 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 company’s 50 day moving average is $290.79 and its 200 day moving average is $212.26. The firm has a market capitalization of $39.54 billion, a price-to-earnings ratio of 55.81 and a beta of 1.85.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The business’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the acquisition, the director owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its stake in 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 acquiring an additional 83 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 purchasing an additional 37 shares in the last quarter. First Horizon Corp bought a new position in shares of Celestica in the 3rd quarter valued at $31,000. ST Germain D J Co. Inc. acquired a new position in shares of Celestica during the 2nd quarter worth $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Celestica during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

About Celestica

(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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