Celestica (NYSE:CLS) Sees Strong Trading Volume – Time to Buy?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) saw strong trading volume on Wednesday . 1,439,833 shares traded hands during trading, a decline of 40% from the previous session’s volume of 2,405,295 shares.The stock last traded at $124.32 and had previously closed at $118.10.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLS. TD Cowen boosted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, TD Securities raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average target price of $81.45.

Celestica Stock Down 0.4 %

The firm has a market capitalization of $14.29 billion, a P/E ratio of 38.97 and a beta of 2.25. The stock has a fifty day moving average of $95.22 and a 200 day moving average of $69.86. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

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

Insider Transactions at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CLS. Quantbot Technologies LP grew its position in Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after buying an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter valued at about $61,210,000. Sigma Planning Corp purchased a new position in shares of Celestica during the third quarter valued at approximately $420,000. Advisors Asset Management Inc. raised its holdings in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Celestica during the 3rd quarter valued at about $1,580,000. Institutional investors own 67.38% of the company’s stock.

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.