Celestica (NYSE:CLS) Reaches New 1-Year High – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $106.59 and last traded at $105.04, with a volume of 190715 shares. The stock had previously closed at $103.11.

Analysts Set New Price Targets

A number of research firms have issued reports on CLS. Stifel Nicolaus increased their price target on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Cowen raised their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, TD Securities increased their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Price Performance

The company has a fifty day moving average price of $92.60 and a two-hundred day moving average price of $68.15. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 35.12 and a beta of 2.25. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $0.65 EPS. Celestica’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts expect that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of the stock. Whale Rock Capital Management LLC increased its stake in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after buying an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica during the third quarter worth about $61,210,000. Dimensional Fund Advisors LP increased its stake in shares of Celestica by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares during the period. Driehaus Capital Management LLC raised its holdings in Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after purchasing an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Celestica by 0.8% in the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after purchasing an additional 9,462 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.