Celestica (NYSE:CLS) Stock Price Up 8.1% – Time to Buy?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) shot up 8.1% during mid-day trading on Friday . The company traded as high as $293.87 and last traded at $292.92. 3,075,032 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 3,904,053 shares. The stock had previously closed at $270.92.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CLS shares. CIBC increased their price objective on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. TD Securities upped their price objective on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Finally, Barclays raised their target price on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Up 8.1%

The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $309.71 and a 200-day simple moving average of $230.95. The company has a market cap of $33.69 billion, a PE ratio of 47.55 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. Equities research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Insider Buying and Selling 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 shares were acquired 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 directly owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

A number of large investors have recently modified their holdings of the business. Golden State Wealth Management LLC lifted its stake in shares of Celestica by 102.5% in 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 increased its holdings in shares of 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 purchasing an additional 37 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Celestica in the third quarter valued at about $31,000. ST Germain D J Co. Inc. acquired a new stake in shares of Celestica during the 2nd quarter worth approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Celestica in the second quarter valued at $40,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

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.