Celestica (NYSE:CLS) Stock Price Up 1.3%

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 1.3% on Wednesday . The stock traded as high as $56.83 and last traded at $56.55. Approximately 402,545 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,277,605 shares. The stock had previously closed at $55.81.

Analyst Upgrades and Downgrades

CLS has been the topic of several research analyst reports. Royal Bank of Canada upped their price target on shares of Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Sunday, April 28th. CIBC upped their target price on shares of Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, May 27th. Canaccord Genuity Group upped their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. BMO Capital Markets upped their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Fox Advisors began coverage on shares of Celestica in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.22.

Celestica Trading Up 3.4 %

The firm’s 50-day simple moving average is $51.73 and its 200-day simple moving average is $42.59. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.80 billion, a PE ratio of 21.34 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.10 billion. Equities analysts expect that Celestica Inc. will post 2.87 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently modified their holdings of CLS. Byrne Asset Management LLC raised its stake in Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after buying an additional 550 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Celestica in the 1st quarter valued at approximately $64,000. Principal Securities Inc. bought a new stake in shares of Celestica during the fourth quarter valued at approximately $42,000. DekaBank Deutsche Girozentrale purchased a new stake in Celestica in the first quarter worth $110,000. Finally, Blue Trust Inc. raised its holdings in Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,384 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

Celestica Company Profile

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.