Celestica (NYSE:CLS) Trading 5.6% Higher – Time to Buy?

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) shares rose 5.6% on Friday . The stock traded as high as $311.23 and last traded at $309.1740. Approximately 4,930,383 shares were traded during trading, an increase of 23% from the average daily volume of 3,993,788 shares. The stock had previously closed at $292.75.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. BNP Paribas reissued an “outperform” rating and issued a $300.00 price objective on shares of Celestica in a research report on Thursday, September 25th. Royal Bank Of Canada boosted their price objective on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. TD Securities raised their target price on Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Finally, BMO Capital Markets set a $370.00 target price on Celestica and gave the stock an “outperform” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $336.13.

Read Our Latest Stock Report on CLS

Celestica Stock Performance

The company’s 50 day moving average price is $276.29 and its 200-day moving average price is $194.63. The stock has a market cap of $35.56 billion, a P/E ratio of 50.19 and a beta of 1.85. 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 – Get Free Report) (TSE:CLS) last posted its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.45 by $0.13. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 EPS. Equities analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the purchase, the director directly owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several large investors have recently modified their holdings of CLS. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares in the last quarter. First Horizon Corp bought a new position in Celestica in the 3rd quarter worth about $31,000. Golden State Wealth Management LLC raised its stake in Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares in the last quarter. Avion Wealth bought a new stake in Celestica during the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp grew its stake in 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. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

(Get Free Report)

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.

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