Celestica (NYSE:CLS) Hits New 52-Week High – Time to Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) reached a new 52-week high during trading on Thursday . The company traded as high as $363.40 and last traded at $352.73, with a volume of 2753222 shares traded. The stock had previously closed at $335.79.

Analyst Ratings Changes

Several research firms have recently weighed in on CLS. The Goldman Sachs Group lifted their price objective on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BMO Capital Markets set a $370.00 target price on shares of Celestica and gave the company an “outperform” rating in a research report on Wednesday, October 29th. TD Securities increased their price objective 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average price target of $325.13.

Celestica Stock 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 company has a market capitalization of $37.07 billion, a price-to-earnings ratio of 52.31 and a beta of 1.85. The stock has a 50-day moving average price of $266.82 and a 200-day moving average price of $188.03.

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

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner acquired 6,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the acquisition, the director directly owned 6,000 shares in the company, valued at $2,050,020. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of Celestica by 1,103.8% in the first quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock valued at $1,930,000 after buying an additional 22,452 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Celestica by 406.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after purchasing an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Celestica during the second quarter worth $343,000. Think Investments LP acquired a new position in Celestica in the first quarter valued at $14,939,000. Finally, Royal Bank of Canada grew its holdings in Celestica by 1.5% during the 1st quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock worth $100,922,000 after acquiring an additional 19,391 shares during the period. 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.