Celestica (NYSE:CLS) Trading Up 2.2% – Time to Buy?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) shot up 2.2% during trading on Friday . The stock traded as high as $312.80 and last traded at $302.0480. 1,733,798 shares were traded during mid-day trading, a decline of 19% from the average session volume of 2,140,762 shares. The stock had previously closed at $295.61.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CLS. New Street Research set a $400.00 target price on shares of Celestica in a research report on Wednesday, October 29th. Citigroup raised Celestica from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $212.00 to $375.00 in a report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. TD Securities boosted their price target on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Finally, Zacks Research lowered Celestica from a “strong-buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Up 2.2%

The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $316.66 and a 200-day simple moving average of $243.40. The company has a market cap of $34.75 billion, a PE ratio of 49.03 and a beta of 1.87.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share 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 business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company posted $1.04 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Insider Activity

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director directly owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Institutional investors have recently bought and sold shares of the company. Pinney & Scofield Inc. lifted its position in shares of Celestica by 20.0% in the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after acquiring an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares during the last quarter. World Equity Group Inc. lifted its holdings in Celestica by 1.7% in the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after purchasing an additional 38 shares in the last quarter. Pure Financial Advisors LLC boosted its stake in Celestica by 3.2% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after purchasing an additional 50 shares during the last quarter. Finally, McIlrath & Eck LLC grew its holdings in shares of Celestica by 43.3% during the third quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock worth $45,000 after buying an additional 55 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.