Celestica (NYSE:CLS) Trading Up 7% Following Analyst Upgrade

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded up 7% during trading on Monday after Citigroup upgraded the stock from a neutral rating to a buy rating. Citigroup now has a $375.00 price target on the stock, up from their previous price target of $212.00. Celestica traded as high as $346.20 and last traded at $344.57. 2,303,168 shares were traded during mid-day trading, a decline of 42% from the average session volume of 4,000,873 shares. The stock had previously closed at $322.10.

CLS has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Canaccord Genuity Group increased their price objective on shares of Celestica from $126.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. BNP Paribas reissued an “outperform” rating and issued a $300.00 target price on shares of Celestica in a report on Thursday, September 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $385.00 price target (up from $230.00) on shares of Celestica in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $336.00.

Insider Transactions at Celestica

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. First Horizon Corp bought a new position in shares of Celestica during the third quarter valued at approximately $31,000. ST Germain D J Co. Inc. purchased a new stake in shares of Celestica in the second quarter worth approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Celestica during the 2nd quarter worth approximately $40,000. Institutional investors own 67.38% of the company’s stock.

Celestica Trading Up 7.0%

The stock has a fifty day moving average of $266.82 and a 200-day moving average of $189.48. The company has a market cap of $39.63 billion, a PE ratio of 55.94 and a beta of 1.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47.

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 analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. The business’s revenue was up 27.8% on a year-over-year basis. Sell-side analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

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.