Celestica (NYSE:CLS) Sets New 52-Week High Following Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price reached a new 52-week high during trading on Friday after TD Securities raised their price target on the stock from $68.00 to $70.00. TD Securities currently has a buy rating on the stock. Celestica traded as high as $68.64 and last traded at $68.64, with a volume of 16959 shares. The stock had previously closed at $67.94.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus lifted their price target on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. CIBC lifted their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price target on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of CLS. Optimum Investment Advisors lifted its holdings in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the period. Financial Management Professionals Inc. acquired a new position in Celestica during the 3rd quarter worth about $30,000. UMB Bank n.a. acquired a new position in Celestica during the 3rd quarter worth about $34,000. Wolff Wiese Magana LLC lifted its holdings in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 170 shares during the period. Finally, Global Trust Asset Management LLC acquired a new position in Celestica during the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 25.89 and a beta of 2.28. The company has a fifty day simple moving average of $52.42 and a 200 day simple moving average of $52.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Equities research analysts forecast that Celestica Inc. will post 3.22 EPS for the current fiscal year.

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.