Celestica (NYSE:CLS) Trading 3.5% Higher – Here’s What Happened

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) shot up 3.5% during mid-day trading on Friday . The company traded as high as $344.78 and last traded at $343.7860. 1,524,808 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 3,975,538 shares. The stock had previously closed at $332.24.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. CICC Research began coverage on shares of Celestica in a research note on Tuesday, August 19th. They issued an “outperform” rating for the company. TD Cowen reiterated a “hold” rating and set a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. New Street Research set a $400.00 price target on Celestica in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Up 3.5%

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 stock has a market cap of $39.54 billion, a P/E ratio of 55.81 and a beta of 1.85. The firm has a 50-day simple moving average of $288.97 and a two-hundred day simple moving average of $209.86.

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

Insider Activity

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the acquisition, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade 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. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Celestica

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Celestica by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after acquiring an additional 97,755 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Celestica by 471.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after purchasing an additional 2,596,318 shares during the period. Franklin Resources Inc. lifted its position in Celestica by 4.8% during the third quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock worth $473,386,000 after purchasing an additional 88,212 shares during the period. Voya Investment Management LLC lifted its position in Celestica by 362.8% during the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after purchasing an additional 1,453,473 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Celestica by 17.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after buying an additional 259,504 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.