Celestica (NYSE:CLS) Sets New 52-Week High – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $106.59 and last traded at $105.04, with a volume of 190715 shares traded. The stock had previously closed at $103.11.

Analyst Ratings Changes

CLS has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Securities lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus upped their price target on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada raised their price objective on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.45.

Celestica Stock Performance

The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 33.98 and a beta of 2.25. The firm’s 50-day moving average price is $91.57 and its two-hundred day moving average price is $67.58. 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 released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Sell-side analysts predict that Celestica Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Celestica by 85.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,790 shares of the technology company’s stock worth $848,000 after acquiring an additional 6,820 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Celestica during the second quarter worth $2,051,000. Envestnet Asset Management Inc. increased its stake in shares of Celestica by 185.7% in the second quarter. Envestnet Asset Management Inc. now owns 113,483 shares of the technology company’s stock valued at $6,504,000 after buying an additional 73,764 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Celestica in the second quarter valued at $419,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock valued at $68,024,000 after buying an additional 52,807 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

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.