Celestica (NYSE:CLS) Hits New 1-Year High – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $71.15 and last traded at $71.15, with a volume of 811467 shares. The stock had previously closed at $68.40.

Analysts Set New Price Targets

CLS has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. TD Cowen boosted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Celestica Stock Up 2.7 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $8.33 billion, a PE ratio of 22.29 and a beta of 2.28. The firm has a 50-day moving average of $54.04 and a two-hundred day moving average of $53.16.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. Equities research analysts predict that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CLS. Vanguard Group Inc. raised its holdings in shares of Celestica by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after buying an additional 562,157 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Celestica during the first quarter worth about $1,231,000. BNP Paribas Financial Markets lifted its position in shares of Celestica by 62.9% during the first quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock worth $24,548,000 after purchasing an additional 210,943 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Celestica by 6.9% in the first quarter. Janney Montgomery Scott LLC now owns 101,272 shares of the technology company’s stock valued at $4,551,000 after purchasing an additional 6,523 shares during the period. Finally, Sciencast Management LP grew its holdings in shares of Celestica by 21.5% in the first quarter. Sciencast Management LP now owns 21,892 shares of the technology company’s stock valued at $984,000 after purchasing an additional 3,881 shares in the last quarter. 67.38% of the stock is currently 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.