Celestica (NYSE:CLS) Trading Up 1.5% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price shot up 1.5% on Tuesday . The company traded as high as $331.20 and last traded at $327.4540. 3,166,138 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 3,992,385 shares. The stock had previously closed at $322.54.

Analyst Ratings Changes

CLS has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. TD Securities upped their price target on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. BNP Paribas reiterated an “outperform” rating and issued a $300.00 price target on shares of Celestica in a report on Thursday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The firm has a market capitalization of $37.66 billion, a PE ratio of 53.16 and a beta of 1.85. The company has a 50-day moving average price of $284.20 and a 200-day moving average price of $206.48.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share 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 firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Sell-side analysts forecast that Celestica, Inc. will post 4.35 EPS for the current year.

Insider Activity

In other news, Director Laurette T. Koellner bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Celestica by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after purchasing an additional 97,755 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Celestica by 471.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after buying an additional 2,596,318 shares during the last quarter. Franklin Resources Inc. grew its holdings in Celestica by 4.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock valued at $473,386,000 after buying an additional 88,212 shares during the period. Voya Investment Management LLC increased its stake in shares of Celestica by 362.8% during the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after acquiring an additional 1,453,473 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Celestica by 17.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after acquiring an additional 259,504 shares during the period. Hedge funds and other 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.