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

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares were up 3.6% during mid-day trading on Thursday . The company traded as high as $112.33 and last traded at $111.35. Approximately 365,071 shares changed 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CLS shares. TD Securities increased 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. Stifel Nicolaus increased their price objective on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group increased their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada increased their price objective on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, Barclays assumed coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.45.

Celestica Trading Up 4.2 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market capitalization of $13.04 billion, a PE ratio of 35.46 and a beta of 2.25. The stock has a 50-day moving average price of $92.09 and a two-hundred day moving average price of $67.85.

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, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, equities analysts forecast that Celestica Inc. will post 3.44 earnings per share for the current year.

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of Celestica 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 sale, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP raised its stake in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica in the 3rd quarter worth approximately $61,210,000. Sigma Planning Corp bought a new stake in Celestica in the 3rd quarter worth approximately $420,000. XTX Topco Ltd bought a new stake in Celestica in the 3rd quarter worth approximately $1,580,000. Finally, Advisors Asset Management Inc. increased its stake in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after acquiring an additional 12,584 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

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.