Celestica (NYSE:CLS) Shares Up 4.4% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price was up 4.4% during mid-day trading on Wednesday . The company traded as high as $328.50 and last traded at $312.9750. Approximately 3,186,378 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 3,981,683 shares. The stock had previously closed at $299.92.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. CICC Research started coverage on shares of Celestica in a research report on Tuesday, August 19th. They set an “outperform” rating on the stock. Barclays lifted their target price on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Stifel Nicolaus reissued a “buy” rating and set a $385.00 price target (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. Finally, New Street Research set a $400.00 price objective on Celestica in a report 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Trading Up 4.4%

The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 50.81 and a beta of 1.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The business’s 50-day simple moving average is $280.05 and its two-hundred day simple moving average is $200.73.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data 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. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 earnings per share. On average, research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity at Celestica

In other news, Director Laurette T. Koellner bought 6,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently modified their holdings of CLS. MassMutual Private Wealth & Trust FSB grew its position in shares of 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 acquiring an additional 37 shares during the last quarter. First Horizon Corp acquired a new position in shares of Celestica during the third quarter valued at $31,000. Golden State Wealth Management LLC raised its position 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 worth $26,000 after buying an additional 83 shares in the last quarter. Avion Wealth bought a new position in shares of Celestica in the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp raised its stake in shares of Celestica by 48.7% in the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after buying an additional 56 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

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.