Celestica (NYSE:CLS) Reaches New 12-Month High – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) hit a new 52-week high on Monday . The stock traded as high as $101.09 and last traded at $99.57, with a volume of 397701 shares changing hands. The stock had previously closed at $96.92.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLS. Barclays initiated coverage on shares of Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective on the stock. UBS Group initiated coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. TD Securities upped their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada boosted their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.82.

Celestica Stock Performance

The business’s fifty day moving average price is $87.32 and its 200-day moving average price is $65.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market capitalization of $11.61 billion, a PE ratio of 31.68 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts expect that Celestica Inc. will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Westover Capital Advisors LLC raised its position in shares of Celestica by 20.9% during the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after buying an additional 3,764 shares in the last quarter. Quantbot Technologies LP raised its position in Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica during the third quarter worth about $61,210,000. Sigma Planning Corp purchased a new position in shares of Celestica in the 3rd quarter worth about $420,000. Finally, Advisors Asset Management Inc. increased its position in shares of Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.