Celestica (NYSE:CLS) Trading 15.2% Higher – Should You Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price shot up 15.2% during trading on Monday . The stock traded as high as $324.02 and last traded at $322.6730. 5,118,036 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 3,995,875 shares. The stock had previously closed at $280.06.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. New Street Research set a $400.00 price objective on Celestica in a research report on Wednesday, October 29th. Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and upped their price target for the stock from $212.00 to $375.00 in a report on Monday, November 10th. Royal Bank Of Canada increased their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. TD Cowen reissued a “hold” rating and set a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. Finally, Barclays upped their target price on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $336.13.

Celestica Trading Up 15.2%

The firm has a market capitalization of $37.11 billion, a price-to-earnings ratio of 52.38 and a beta of 1.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The company has a 50-day moving average price of $284.20 and a 200-day moving average price of $206.48.

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

Insider Activity

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings 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 Celestica during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC increased its position in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after buying an additional 83 shares during the period. Avion Wealth purchased a new stake in Celestica in the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.