Celestica (NYSE:CLS) Shares Up 15.2% – What’s Next?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) were up 15.2% during mid-day trading on Monday . The company traded as high as $324.02 and last traded at $322.6730. Approximately 5,118,036 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 3,995,875 shares. The stock had previously closed at $280.06.

Analyst Upgrades and Downgrades

Several research firms recently commented on CLS. CIBC increased their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Royal Bank Of Canada raised their target price on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. CICC Research began coverage on Celestica in a report on Tuesday, August 19th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average target price of $336.13.

Celestica Trading Up 15.2%

The business has a fifty day moving average price of $284.20 and a two-hundred day moving average price of $206.48. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $37.11 billion, a PE ratio of 52.38 and a beta of 1.85.

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

Insiders Place Their Bets

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

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

Celestica Company Profile

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.