Celestica (NYSE:CLS) Hits New 12-Month High – Should You Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $101.09 and last traded at $99.57, with a volume of 397701 shares trading hands. The stock had previously closed at $96.92.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CLS shares. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. TD Cowen boosted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Securities boosted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. 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 a consensus price target of $77.82.

Celestica Stock Down 0.8 %

The company has a fifty day simple moving average of $88.45 and a 200-day simple moving average of $65.93. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market cap of $11.40 billion, a P/E ratio of 31.10 and a beta of 2.25.

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 the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, equities analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Optimum Investment Advisors grew its stake in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Celestica in the 3rd quarter valued at $30,000. UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter valued at $34,000. Private Trust Co. NA boosted its position 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 purchasing an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Celestica in the 3rd quarter worth $51,000. Institutional investors own 67.38% of the company’s stock.

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.