Celestica (NYSE:CLS) Trading Up 5.5% – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CLS shares. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Barclays started coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. CIBC raised 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. TD Cowen raised their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets raised 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.10.

Celestica Stock Performance

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 has a market cap of $10.95 billion, a price-to-earnings ratio of 27.61 and a beta of 2.24. The stock’s 50-day moving average is $63.16 and its 200 day moving average is $56.69.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, analysts predict that Celestica Inc. will post 3.44 earnings per share 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 CLS. Optimum Investment Advisors raised its position in shares of 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 purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Celestica during the 3rd quarter worth $30,000. UMB Bank n.a. purchased a new stake in Celestica during the 3rd quarter worth $34,000. Wolff Wiese Magana LLC lifted its holdings in Celestica by 32.1% in 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 in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after buying an additional 720 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.