Celestica (NYSE:CLS) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $64.77 and traded as high as $94.18. Celestica shares last traded at $92.30, with a volume of 1,555,157 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CLS shares. Stifel Nicolaus raised their price target on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays started coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. TD Securities lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $77.82.

Celestica Trading Down 1.6 %

The company has a market cap of $10.74 billion, a price-to-earnings ratio of 29.30 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm’s fifty day moving average price is $86.27 and its 200-day moving average price is $64.77.

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

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Whale Rock Capital Management LLC raised its stake in shares of Celestica by 13.0% during the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica in the third quarter worth about $61,210,000. Dimensional Fund Advisors LP raised its position in Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares in the last quarter. Driehaus Capital Management LLC raised its position in Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after acquiring an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Celestica by 0.8% in the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock worth $68,470,000 after acquiring an additional 9,462 shares in the last quarter. 67.38% of the stock is currently 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.