Celestica (NYSE:CLS) Sees Strong Trading Volume

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) saw unusually-strong trading volume on Thursday . Approximately 2,068,938 shares were traded during trading, a decline of 8% from the previous session’s volume of 2,244,613 shares.The stock last traded at $45.16 and had previously closed at $44.10.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLS. Canaccord Genuity Group lifted their price target on Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. TD Securities boosted their target price on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. CIBC boosted their target price on Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets boosted their target price on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price target on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Celestica Stock Performance

The firm has a fifty day simple moving average of $44.42 and a 200 day simple moving average of $34.18. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 21.71 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, sell-side analysts expect that Celestica Inc. will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

A number of large investors have recently bought and sold shares of CLS. WCM Investment Management LLC acquired a new position in Celestica during the 4th quarter worth $67,832,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after buying an additional 2,054,918 shares in the last quarter. Shannon River Fund Management LLC acquired a new position in Celestica during the 3rd quarter worth $41,565,000. Point72 Asset Management L.P. lifted its holdings in Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after buying an additional 1,428,071 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in Celestica by 411.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock worth $47,654,000 after buying an additional 1,309,257 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.