Celestica (NYSE:CLS) Stock Price Up 5%

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price shot up 5% during trading on Monday . The stock traded as high as $60.55 and last traded at $60.52. 478,105 shares traded hands during trading, a decline of 79% from the average session volume of 2,236,468 shares. The stock had previously closed at $57.62.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Fox Advisors started coverage on Celestica in a research note on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price on the stock. Royal Bank of Canada boosted their target price on Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Sunday, April 28th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, CIBC lifted their price objective on shares of Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, May 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $47.22.

Celestica Price Performance

The company has a 50-day moving average of $54.52 and a 200-day moving average of $44.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 22.93 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.10 billion. As a group, research analysts anticipate that Celestica Inc. will post 2.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of large investors have recently added to or reduced their stakes in CLS. Naples Money Management LLC grew its stake in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares during the last quarter. UMB Bank n.a. bought a new position in Celestica in the first quarter valued at $64,000. Principal Securities Inc. acquired a new stake in Celestica in the 4th quarter valued at $42,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Celestica during the 1st quarter worth about $110,000. Institutional investors own 67.38% of the company’s stock.

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.