Celestica (NYSE:CLS) Stock Price Up 8.1% – Here’s Why

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) traded up 8.1% on Tuesday . The company traded as high as $329.84 and last traded at $333.2920. 917,682 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 2,474,284 shares. The stock had previously closed at $308.25.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of research reports. Barclays raised their target price on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. UBS Group upped their target price on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Zacks Research lowered Celestica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday. Finally, New Street Research set a $400.00 target price on shares of Celestica in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.75.

Celestica Trading Up 7.4%

The company has a 50 day simple moving average of $309.44 and a two-hundred day simple moving average of $263.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The firm has a market cap of $38.08 billion, a PE ratio of 53.74 and a beta of 1.87.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $1.04 earnings per share. Celestica’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts expect that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were bought 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 owned 6,000 shares in the company, valued at $2,050,020. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC lifted its position in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after buying an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after acquiring an additional 37 shares during the last quarter. First Horizon Corp purchased a new position in Celestica in the third quarter worth approximately $31,000. ST Germain D J Co. Inc. acquired a new stake in Celestica during the second quarter worth $37,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in Celestica in the fourth quarter valued at $38,000. 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.