Celestica (NYSE:CLS) Trading 4.8% Higher After Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares were up 4.8% 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. Approximately 1,263,601 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 1,554,904 shares. The stock had previously closed at $98.27.

Several other analysts also recently commented on the company. TD Cowen raised their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.45.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the 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 transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Commonwealth Equity Services LLC boosted its holdings in shares of Celestica by 85.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,790 shares of the technology company’s stock worth $848,000 after acquiring an additional 6,820 shares during the period. Natixis Advisors LLC acquired a new position in Celestica in the 2nd quarter valued at $745,000. Oppenheimer & Co. Inc. acquired a new position in Celestica in the 2nd quarter valued at $2,051,000. HBK Sorce Advisory LLC bought a new position in Celestica during the 2nd quarter worth $284,000. Finally, Westover Capital Advisors LLC lifted its holdings in shares of Celestica by 20.9% during the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after buying an additional 3,764 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Stock Performance

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’s 50-day moving average price is $89.10 and its 200-day moving average price is $66.19. The company has a market cap of $11.94 billion, a P/E ratio of 32.58 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping 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 business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Celestica Inc. will post 3.44 EPS for the current year.

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.