Celestica (NYSE:CLS) Sees Unusually-High Trading Volume

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares saw unusually-strong trading volume on Thursday . Approximately 2,068,938 shares traded hands during trading, a decline of 8% from the previous session’s volume of 2,244,613 shares.The stock last traded at $45.16 and had previously closed at $44.10.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CLS shares. Stifel Nicolaus lifted their price target on shares of Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday. Canaccord Genuity Group lifted their price target on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price target on shares of Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. BMO Capital Markets raised their price objective on shares of Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Finally, TD Securities raised their price objective on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The company has a market capitalization of $5.18 billion, a PE ratio of 16.22 and a beta of 2.22. The company’s 50-day simple moving average is $44.49 and its 200-day simple moving average is $34.25.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a net margin of 3.86% and a return on equity of 18.21%. As a group, sell-side analysts anticipate that Celestica Inc. will post 2.59 earnings per share for the current year.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Clearstead Advisors LLC purchased a new stake in shares of Celestica in the third quarter valued at about $32,000. Principal Securities Inc. purchased a new stake in shares of Celestica in the fourth quarter valued at about $42,000. Byrne Asset Management LLC boosted its holdings in shares of Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after acquiring an additional 550 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Celestica in the first quarter valued at about $64,000. Finally, Covestor Ltd purchased a new stake in shares of Celestica in the third quarter valued at about $68,000. Hedge funds and other 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.