Celestica (NYSE:CLS) Shares Gap Up – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) gapped up prior to trading on Tuesday . The stock had previously closed at $113.28, but opened at $119.33. Celestica shares last traded at $115.09, with a volume of 730,468 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CLS shares. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Securities upped their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Finally, Canaccord Genuity Group lifted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Trading Up 4.2 %

The firm has a market cap of $13.74 billion, a PE ratio of 37.27 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The business has a 50-day moving average price of $93.72 and a two-hundred day moving average price of $69.06.

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

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction dated 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 owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several large investors have recently made changes to their positions in the business. Whale Rock Capital Management LLC boosted its stake in shares of Celestica by 13.0% in the third 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 during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Celestica in the third quarter worth $61,210,000. Dimensional Fund Advisors LP increased its stake in Celestica by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock valued at $68,024,000 after purchasing an additional 52,807 shares during the last quarter. Driehaus Capital Management LLC lifted 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 during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of 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 buying an additional 9,462 shares during the period. 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.