Celestica (NYSE:CLS) Trading Up 3.6% – Time to Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) was up 3.6% on Thursday . The company traded as high as $112.33 and last traded at $111.35. Approximately 365,071 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 2,057,065 shares. The stock had previously closed at $107.50.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. TD Cowen upped 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. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. TD Securities upped 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, Stifel Nicolaus boosted their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.45.

Celestica Trading Up 2.2 %

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 $13.17 billion, a P/E ratio of 35.94 and a beta of 2.25. The business’s 50 day moving average is $93.15 and its 200-day moving average is $68.54.

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

Insiders Place Their Bets

In other news, Director Michael Wilson sold 25,000 shares of the company’s 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 transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FCG Investment Co boosted its position in shares of Celestica by 2.5% during the fourth quarter. FCG Investment Co now owns 22,362 shares of the technology company’s stock worth $2,064,000 after buying an additional 542 shares during the period. SG Americas Securities LLC acquired a new stake in Celestica in the fourth quarter worth about $162,000. Global Trust Asset Management LLC grew its position in Celestica by 195.0% in the 4th quarter. Global Trust Asset Management LLC now owns 2,950 shares of the technology company’s stock valued at $272,000 after buying an additional 1,950 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Celestica during the 4th quarter valued at about $300,000. Finally, UMB Bank n.a. raised its position in shares of Celestica by 43.6% during the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after buying an additional 288 shares in the last quarter. 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.