Shares of Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) shot up 1.3% on Wednesday . The stock traded as high as $56.83 and last traded at $56.55. 402,545 shares traded hands during trading, a decline of 82% from the average session volume of 2,277,605 shares. The stock had previously closed at $55.81.
Analyst Ratings Changes
Several brokerages have weighed in on CLS. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th. CIBC lifted their price target on shares of Celestica from $49.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, May 27th. Fox Advisors assumed coverage on shares of Celestica in a report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, May 13th. Finally, Canaccord Genuity Group lifted their price target on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus target price of $47.22.
Get Our Latest Research Report on Celestica
Celestica Price Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Research analysts anticipate that Celestica Inc. will post 2.87 earnings per share for the current year.
Institutional Trading of Celestica
A number of institutional investors have recently made changes to their positions in CLS. Principal Securities Inc. acquired a new stake in shares of Celestica in the 4th quarter worth approximately $42,000. Byrne Asset Management LLC lifted its stake in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after purchasing an additional 550 shares during the last quarter. UMB Bank n.a. acquired a new stake in Celestica during the first quarter valued at approximately $64,000. Blue Trust Inc. lifted its stake in Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after purchasing an additional 1,384 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Celestica during the first quarter valued at approximately $110,000. 67.38% of the stock is owned by institutional investors and hedge funds.
About Celestica
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.
Featured Articles
- Five stocks we like better than Celestica
- What is Insider Trading? What You Can Learn from Insider Trading
- Albemarle Stock: Strong Fundamentals vs. Lithium Volatility
- High Dividend REITs: Are They an Ideal Way to Diversify?
- MongoDB Stock: Analysts Recommend Buying the Dip
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- UniFirst Stock: Value-Building Sends a Signal to the Market
Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.