Celestica (NYSE:CLS) Shares Up 4.4% – Still a Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) traded up 4.4% during trading on Wednesday . The company traded as high as $328.50 and last traded at $312.9750. 3,186,378 shares were traded during trading, a decline of 20% from the average session volume of 3,981,683 shares. The stock had previously closed at $299.92.

Analyst Ratings Changes

CLS has been the subject of several research reports. CICC Research began coverage on shares of Celestica in a report on Tuesday, August 19th. They set an “outperform” rating for the company. BMO Capital Markets set a $370.00 price objective on shares of Celestica and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lifted their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Finally, Citigroup raised Celestica from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $212.00 to $375.00 in a research report on Monday, November 10th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $336.13.

Celestica Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $280.05 and its 200-day moving average is $200.73. The stock has a market cap of $35.99 billion, a price-to-earnings ratio of 50.81 and a beta of 1.85.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the company earned $1.04 EPS. Celestica’s revenue was up 27.8% on a year-over-year basis. Equities research analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Laurette T. Koellner purchased 6,000 shares of Celestica stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC raised its position in Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in 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 acquiring an additional 37 shares in the last quarter. First Horizon Corp bought a new position in shares of Celestica in the third quarter worth about $31,000. ST Germain D J Co. Inc. bought a new position in shares of Celestica in the second quarter worth about $37,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Celestica during the second quarter worth approximately $40,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.