Celestica (NYSE:CLS) Stock Price Up 1.5% – Time to Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares rose 1.5% on Monday . The stock traded as high as $350.41 and last traded at $349.6930. Approximately 1,856,486 shares were traded during trading, a decline of 54% from the average daily volume of 4,026,130 shares. The stock had previously closed at $344.48.

Wall Street Analysts Forecast Growth

CLS has been the subject of several recent analyst reports. TD Cowen reaffirmed a “hold” rating and set a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. CICC Research initiated coverage on shares of Celestica in a research report on Tuesday, August 19th. They set an “outperform” rating for the company. BNP Paribas reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Celestica in a research report on Thursday, September 25th. TD Securities increased their target price on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Finally, CIBC increased their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $325.13.

Celestica Trading Up 1.5%

The business’s fifty day moving average is $252.81 and its 200-day moving average is $180.45. The firm has a market cap of $40.23 billion, a P/E ratio of 56.77 and a beta of 1.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last issued 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 business had revenue of $3.19 billion during 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 firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS. Analysts predict that Celestica, Inc. will post 4.35 EPS for the current year.

Insider Transactions at Celestica

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in Celestica by 1,103.8% in the 1st quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock valued at $1,930,000 after purchasing an additional 22,452 shares during the period. Y Intercept Hong Kong Ltd grew its position in Celestica by 406.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after purchasing an additional 42,215 shares during the period. Fortis Capital Advisors LLC acquired a new stake in Celestica in the 2nd quarter valued at $343,000. Think Investments LP acquired a new stake in Celestica in the 1st quarter valued at $14,939,000. Finally, Royal Bank of Canada boosted its holdings in Celestica by 1.5% during the 1st quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock worth $100,922,000 after acquiring an additional 19,391 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

About Celestica

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.