Celestica (NYSE:CLS) Shares Gap Up to $53.39

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $53.39, but opened at $55.80. Celestica shares last traded at $52.55, with a volume of 1,136,747 shares changing hands.

Wall Street Analyst Weigh In

CLS has been the subject of several research analyst reports. Fox Advisors initiated coverage on shares of Celestica in a report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Stifel Nicolaus upped their price target on shares of Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, May 13th. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The company’s 50-day simple moving average is $56.62 and its 200-day simple moving average is $46.60. The stock has a market capitalization of $6.09 billion, a P/E ratio of 19.41 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.10 billion. As a group, sell-side analysts expect that Celestica Inc. will post 2.88 EPS for the current fiscal year.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its position in Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Naples Money Management LLC raised its position in Celestica by 90.0% during the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares in the last quarter. Byrne Asset Management LLC raised its position in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after acquiring an additional 550 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Celestica in the first quarter valued at about $64,000. Finally, Principal Securities Inc. bought a new position in shares of Celestica in the fourth quarter valued at about $42,000. 67.38% of the stock is 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.