Celestica (NYSE:CLS) Stock Jumps 4.8% – Still a Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price shot up 4.8% during mid-day trading on Thursday. The company traded as high as $267.16 and last traded at $254.6330. Approximately 4,570,746 shares changed hands during trading, an increase of 80% from the average daily volume of 2,536,802 shares. The stock had previously closed at $242.92.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wolfe Research raised their price objective on Celestica from $425.00 to $475.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. TD set a $430.00 target price on Celestica and gave the stock a “buy” rating in a report on Wednesday, September 16th. Royal Bank Of Canada set a $450.00 target price on Celestica and gave the stock an “outperform” rating in a report on Wednesday, August 26th. UBS Group raised their price target on Celestica from $430.00 to $453.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, Stifel Nicolaus set a $500.00 price target on Celestica in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $445.14.

Celestica Price Performance

The business’s fifty day moving average price is $313.28 and its 200 day moving average price is $328.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03. The stock has a market cap of $32.11 billion, a P/E ratio of 24.09, a PEG ratio of 1.57 and a beta of 2.10.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.28. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.39 billion. Celestica had a net margin of 6.83% and a return on equity of 33.80%. Sell-side analysts forecast that Celestica, Inc. will post 10.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert Mionis sold 23,396 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Todd Cooper sold 20,118 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the transaction, the president owned 73,252 shares of the company’s stock, valued at $26,370,720. The trade was a 21.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Celestica during the 1st quarter worth approximately $68,952,000. Ferguson Wellman Capital Management Inc. acquired a new position in Celestica in the 3rd quarter valued at approximately $27,821,000. B. Riley Wealth Advisors Inc. acquired a new position in Celestica in the 3rd quarter valued at approximately $2,217,000. K.J. Harrison & Partners Inc bought a new position in shares of Celestica during the second quarter valued at $1,092,000. Finally, Quantinno Capital Management LP raised its stake in shares of Celestica by 73.7% during the first quarter. Quantinno Capital Management LP now owns 23,954 shares of the technology company’s stock valued at $6,746,000 after acquiring an additional 10,164 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.