Celestica (NYSE:CLS) Trading 1.9% Higher – Here’s Why

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) rose 1.9% on Wednesday . The company traded as high as $312.61 and last traded at $309.16. Approximately 648,727 shares were traded during trading, a decline of 83% from the average daily volume of 3,874,775 shares. The stock had previously closed at $303.46.

Analyst Ratings Changes

CLS has been the topic of a number of recent analyst reports. Citigroup raised Celestica from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $212.00 to $375.00 in a research note on Monday, November 10th. Stifel Nicolaus reiterated a “buy” rating and set a $385.00 price target (up previously from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. The Goldman Sachs Group increased their price objective on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. BNP Paribas reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Celestica in a research note on Thursday, September 25th. Finally, TD Cowen reiterated a “hold” rating and set a $238.00 target price on shares of Celestica in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Performance

The stock has a market capitalization of $35.55 billion, a price-to-earnings ratio of 50.19 and a beta of 1.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The stock has a 50-day moving average of $312.71 and a 200 day moving average of $236.34.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, analysts expect that Celestica, Inc. will post 4.35 EPS for the current year.

Insider Buying and Selling

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Pinney & Scofield Inc. increased its holdings in Celestica by 20.0% in the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 30 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after buying an additional 37 shares during the last quarter. World Equity Group Inc. grew its position in shares of Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after buying an additional 38 shares during the period. Pure Financial Advisors LLC grew its position in shares of Celestica by 3.2% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after buying an additional 50 shares during the period. Finally, McIlrath & Eck LLC grew its holdings in shares of Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock valued at $45,000 after buying an additional 55 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.