Celestica (NYSE:CLS) Stock Price Up 3.6% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares rose 3.6% on Thursday . The stock traded as high as $112.33 and last traded at $111.35. Approximately 365,071 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 2,057,065 shares. The stock had previously closed at $107.50.

Analyst Ratings Changes

CLS has been the subject of several recent research reports. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada upped their price target on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.45.

Celestica Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average is $92.09 and its two-hundred day moving average is $67.85. The company has a market capitalization of $13.04 billion, a P/E ratio of 35.46 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. Celestica’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. Equities analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Celestica

A number of institutional investors have recently made changes to their positions in CLS. Commonwealth Equity Services LLC boosted its stake in shares of Celestica by 85.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,790 shares of the technology company’s stock valued at $848,000 after purchasing an additional 6,820 shares during the period. Envestnet Asset Management Inc. lifted its stake in Celestica by 185.7% in the second quarter. Envestnet Asset Management Inc. now owns 113,483 shares of the technology company’s stock worth $6,504,000 after acquiring an additional 73,764 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in Celestica in the second quarter worth $419,000. Dimensional Fund Advisors LP lifted its stake in Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares during the period. Finally, Quantbot Technologies LP lifted its stake in Celestica by 35.9% in the second quarter. Quantbot Technologies LP now owns 46,928 shares of the technology company’s stock worth $2,690,000 after acquiring an additional 12,394 shares during the period. Hedge funds and other 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.