Celestica (NYSE:CLS) Trading 5.5% Higher – Should You Buy?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were up 5.5% during trading on Thursday . The company traded as high as $92.24 and last traded at $91.80. Approximately 682,994 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,280,137 shares. The stock had previously closed at $86.98.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen upped 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. BMO Capital Markets raised their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. CIBC upped their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus raised their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.45.

Celestica Stock Performance

The stock has a market cap of $10.37 billion, a P/E ratio of 28.30 and a beta of 2.24. 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 stock’s 50 day simple moving average is $64.09 and its two-hundred day simple moving average is $56.94.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, research analysts forecast that Celestica Inc. will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the last quarter. Optimum Investment Advisors grew its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Truist Financial Corp lifted its position in Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the last quarter. Finally, Pier Capital LLC grew its holdings in shares of Celestica by 0.4% in the 3rd quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.