Celestica (NYSE:CLS) Stock Price Up 1.9% – Should You Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price shot up 1.9% during mid-day trading on Wednesday . The company traded as high as $312.61 and last traded at $309.16. 648,727 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,874,775 shares. The stock had previously closed at $303.46.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CLS shares. BNP Paribas reissued an “outperform” rating and set a $300.00 target price on shares of Celestica in a research report on Thursday, September 25th. Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $212.00 to $375.00 in a research note on Monday, November 10th. Royal Bank Of Canada increased their target price on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Wall Street Zen lowered Celestica from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Barclays lifted their price target on Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Stock Performance

The firm has a fifty day simple moving average of $312.71 and a 200 day simple moving average of $236.34. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of 50.19 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data 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 company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.Celestica’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 EPS. As a group, sell-side analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current year.

Insider Activity

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the acquisition, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was 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. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently made changes to their positions in the company. Pinney & Scofield Inc. lifted its holdings in Celestica by 20.0% during the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 30 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after buying an additional 37 shares in the last quarter. World Equity Group Inc. increased its holdings in shares of Celestica by 1.7% during the third quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after buying an additional 38 shares in the last quarter. Pure Financial Advisors LLC raised its stake in shares of Celestica by 3.2% in the third quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock valued at $398,000 after acquiring an additional 50 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in shares of Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock worth $45,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.