Celestica (NYSE:CLS) Trading Up 4.8% Following Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were up 4.8% during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $75.00 to $115.00. Royal Bank of Canada currently has an outperform rating on the stock. Celestica traded as high as $102.97 and last traded at $102.94. Approximately 1,263,601 shares were traded during trading, a decline of 19% from the average daily volume of 1,554,904 shares. The stock had previously closed at $98.27.

Several other research analysts also recently issued reports on CLS. TD Cowen boosted 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. Stifel Nicolaus upped their price target on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Barclays initiated coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective on the stock. Finally, TD Securities raised their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.45.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of CLS. Commonwealth Equity Services LLC boosted its stake in Celestica by 85.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,790 shares of the technology company’s stock worth $848,000 after purchasing an additional 6,820 shares in the last quarter. Natixis Advisors LLC bought a new position in shares of Celestica in the second quarter valued at about $745,000. Oppenheimer & Co. Inc. acquired a new position in Celestica during the 2nd quarter worth about $2,051,000. HBK Sorce Advisory LLC acquired a new position in Celestica during the 2nd quarter worth about $284,000. Finally, Westover Capital Advisors LLC grew its holdings in Celestica by 20.9% during the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after acquiring an additional 3,764 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Stock Up 4.4 %

The firm’s 50-day simple moving average is $88.45 and its two-hundred day simple moving average is $65.93. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 32.58 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

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

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.