Celestica (NYSE:CLS) Stock Price Up 4.8% on Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 4.8% during trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $75.00 to $115.00. Royal Bank of Canada currently has an outperform rating on the stock. Celestica traded as high as $102.97 and last traded at $102.94. 1,263,601 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 1,554,904 shares. The stock had previously closed at $98.27.

Several other research analysts have also recently commented on CLS. Stifel Nicolaus raised their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. BMO Capital Markets lifted their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen increased their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, TD Securities lifted 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several hedge funds have recently modified their holdings of the stock. Optimum Investment Advisors raised its position in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the 3rd quarter worth about $30,000. UMB Bank n.a. bought a new stake in Celestica during the 3rd quarter worth about $34,000. Private Trust Co. NA lifted its position in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the period. Finally, Global Trust Asset Management LLC bought a new position in shares of Celestica in the 3rd quarter valued at about $51,000. 67.38% of the stock is owned by institutional investors.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 32.58 and a beta of 2.25. The firm’s 50-day moving average price is $89.10 and its 200 day moving average price is $66.19.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. On average, sell-side analysts anticipate that Celestica Inc. will post 3.44 EPS for the current year.

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.