Celestica (NYSE:CLS) Sets New 1-Year High – Here’s Why

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) hit a new 52-week high during mid-day trading on Wednesday . The company 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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CLS. Royal Bank of Canada raised their price target on shares of Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. TD Cowen boosted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets upped their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price objective on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, TD Securities boosted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Stock Up 3.8 %

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 firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 33.98 and a beta of 2.25. The business’s 50-day moving average is $91.57 and its two-hundred day moving average is $67.58.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion during 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 revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Celestica

In related 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 represents a 93.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLS. Whale Rock Capital Management LLC lifted its position 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 acquiring an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica in the third quarter valued at about $61,210,000. Dimensional Fund Advisors LP boosted its position 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 buying an additional 52,807 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of 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 buying an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can raised its position 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 buying an additional 9,462 shares during the last quarter. Institutional investors 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.