Celestica (NYSE:CLS) Reaches New 1-Year High – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $98.03 and last traded at $97.88, with a volume of 600841 shares trading hands. The stock had previously closed at $91.01.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen increased their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Securities upped their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Celestica Stock Performance

The firm’s 50 day simple moving average is $76.65 and its 200 day simple moving average is $61.10. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 31.49 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts forecast that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Celestica by 276.6% during the 2nd quarter. SG Americas Securities LLC now owns 18,935 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 13,907 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Celestica in the second quarter valued at approximately $218,000. Blue Trust Inc. increased its position in shares of Celestica by 422.8% in the second quarter. Blue Trust Inc. now owns 7,314 shares of the technology company’s stock valued at $419,000 after buying an additional 5,915 shares in the last quarter. Raymond James & Associates raised its stake in shares of Celestica by 79.7% during the 2nd quarter. Raymond James & Associates now owns 108,930 shares of the technology company’s stock worth $6,245,000 after buying an additional 48,323 shares during the period. Finally, Bay Rivers Group raised its stake in shares of Celestica by 1.9% during the 2nd quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock worth $1,119,000 after buying an additional 370 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.