Celestica (NYSE:CLS) Trading 8.1% Higher – What’s Next?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) rose 8.1% during trading on Friday . The company traded as high as $293.87 and last traded at $292.92. Approximately 3,075,032 shares were traded during trading, a decline of 21% from the average daily volume of 3,904,053 shares. The stock had previously closed at $270.92.

Analyst Ratings Changes

Several research analysts recently issued reports on CLS shares. TD Securities increased their price target 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. New Street Research set a $400.00 price objective on shares of Celestica in a report on Wednesday, October 29th. Wall Street Zen downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. CIBC boosted their price target on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $336.13.

Celestica Trading Up 8.1%

The company’s fifty day simple moving average is $309.71 and its 200-day simple moving average is $230.95. The company has a market capitalization of $33.69 billion, a P/E ratio of 47.55 and a beta of 1.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47.

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

Insiders Place Their Bets

In related news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the purchase, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its holdings in Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after acquiring an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares during the last quarter. First Horizon Corp purchased a new position in shares of Celestica in the 3rd quarter valued at approximately $31,000. ST Germain D J Co. Inc. acquired a new stake in Celestica in the 2nd quarter worth approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Celestica during the 2nd quarter worth approximately $40,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.