Celestica (NYSE:CLS) Stock Price Up 3.6% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price shot up 3.6% during mid-day trading on Thursday . The stock traded as high as $112.33 and last traded at $111.35. 365,071 shares changed hands during trading, a decline of 82% from the average session volume of 2,057,065 shares. The stock had previously closed at $107.50.

Analyst Ratings Changes

CLS has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on shares of Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. UBS Group assumed coverage on shares of Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. TD Cowen boosted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays initiated coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Finally, Canaccord Genuity Group boosted 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. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.45.

Celestica Price Performance

The company’s 50-day simple moving average is $93.15 and its 200 day simple moving average is $68.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market cap of $13.17 billion, a PE ratio of 35.94 and a beta of 2.25.

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

Insider Activity at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 purchasing an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter valued at $61,210,000. Dimensional Fund Advisors LP raised its stake in shares of Celestica by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Celestica by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after acquiring an additional 9,462 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.