Celestica (NYSE:CLS) Reaches New 52-Week High – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) reached a new 52-week high during trading on Wednesday . The company traded as high as $88.68 and last traded at $86.99, with a volume of 189334 shares. The stock had previously closed at $86.82.

Wall Street Analyst Weigh In

CLS has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. TD Securities raised their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.10.

Celestica Trading Up 5.4 %

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 market capitalization of $10.87 billion, a price-to-earnings ratio of 29.39 and a beta of 2.24. The company has a 50 day moving average price of $63.16 and a two-hundred day moving average price of $56.69.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors raised its stake in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Celestica in the 3rd quarter valued at $30,000. UMB Bank n.a. acquired a new stake in shares of Celestica in the 3rd quarter worth $34,000. Wolff Wiese Magana LLC increased its stake in shares of 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 acquiring an additional 170 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in shares of 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 acquiring an additional 720 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.