Celestica (NYSE:CLS) Shares Gap Up to $48.88

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $48.88, but opened at $52.86. Celestica shares last traded at $52.45, with a volume of 213,541 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets boosted their target price on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, June 17th. CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.38.

Celestica Price Performance

The firm’s 50-day moving average is $56.35 and its 200-day moving average is $47.40. The company has a market capitalization of $5.50 billion, a PE ratio of 17.33 and a beta of 2.31. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Equities analysts predict that Celestica Inc. will post 3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC raised its stake in Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 170 shares in the last quarter. Bay Rivers Group raised its stake in Celestica by 1.9% in the second quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock worth $1,119,000 after buying an additional 370 shares in the last quarter. Naples Money Management LLC raised its stake in Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after buying an additional 450 shares in the last quarter. Byrne Asset Management LLC raised its stake in Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after buying an additional 550 shares in the last quarter. Finally, Guardian Capital Advisors LP grew its holdings in Celestica by 8.5% in the fourth quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock worth $256,000 after purchasing an additional 685 shares during the period. 67.38% of the stock is owned by institutional investors.

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.