Celestica (NYSE:CLS) Shares Up 8.1% – Here’s What Happened

Celestica, Inc. (NYSE:CLS) (TSE:CLS) traded up 8.1% during mid-day trading on Friday . The stock traded as high as $293.87 and last traded at $292.92. 3,075,032 shares changed hands during trading, a decline of 21% from the average session volume of 3,904,053 shares. The stock had previously closed at $270.92.

Analyst Ratings Changes

CLS has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price target on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and raised their target price for the company from $212.00 to $375.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. boosted their target price on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, New Street Research set a $400.00 price objective on Celestica in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Up 8.1%

The company has a market cap of $33.69 billion, a price-to-earnings ratio of 47.55 and a beta of 1.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The stock’s fifty day moving average is $310.69 and its two-hundred day moving average is $232.94.

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

Insider Transactions at Celestica

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

Hedge Funds Weigh In On Celestica

Hedge funds have recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in shares of Celestica by 102.5% in the second 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 grew 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 worth $31,000 after purchasing an additional 37 shares in the last quarter. First Horizon Corp bought a new stake in Celestica in the 3rd quarter worth about $31,000. ST Germain D J Co. Inc. purchased a new stake in Celestica in the 2nd quarter valued at about $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Celestica during the 2nd quarter worth approximately $40,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

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.