Celestica (NYSE:CLS) Trading Up 4.7% – Here’s What Happened

Celestica, Inc. (NYSE:CLS) (TSE:CLS) traded up 4.7% during mid-day trading on Monday . The stock traded as high as $306.86 and last traded at $306.1610. 1,927,788 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 3,898,816 shares. The stock had previously closed at $292.29.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of recent analyst reports. Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $212.00 to $375.00 in a research report on Monday, November 10th. TD Securities boosted their price objective on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. New Street Research set a $400.00 target price on shares of Celestica in a research report on Wednesday, October 29th. TD Cowen reaffirmed a “hold” rating and set a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Up 1.9%

The company’s 50 day simple moving average is $313.49 and its 200-day simple moving average is $236.85. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a market cap of $35.55 billion, a P/E ratio of 50.19 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Celestica’s revenue was up 27.8% compared to the same quarter last year. Research analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently bought and sold shares of CLS. Golden State Wealth Management LLC grew its stake in shares of Celestica by 102.5% during the 2nd 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 period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares during the period. First Horizon Corp purchased a new stake in shares of Celestica in the third quarter worth $31,000. ST Germain D J Co. Inc. bought a new stake in shares of Celestica during the 2nd quarter valued at $37,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Celestica during the 2nd quarter valued at $40,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.