Celestica (NYSE:CLS) Hits New 52-Week High – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares reached a new 52-week high on Friday . The stock traded as high as $98.03 and last traded at $97.88, with a volume of 600841 shares changing hands. The stock had previously closed at $91.01.

Analyst Upgrades and Downgrades

CLS has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. TD Cowen boosted their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, TD Securities increased their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average price target of $74.18.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a fifty day simple moving average of $76.65 and a two-hundred day simple moving average of $61.10. The firm has a market cap of $11.54 billion, a PE ratio of 31.49 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly 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 company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. Equities analysts predict that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

Hedge funds have recently added to or reduced their stakes in the stock. Westover Capital Advisors LLC raised its holdings in shares of Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 3,764 shares in the last quarter. Quantbot Technologies LP increased its position in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica in the 3rd quarter valued at about $61,210,000. Sigma Planning Corp purchased a new stake in shares of Celestica in the 3rd quarter worth approximately $420,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.