Celestica (NYSE:CLS) Stock Price Up 7% on Analyst Upgrade

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) rose 7% on Monday after Citigroup upgraded the stock from a neutral rating to a buy rating. Citigroup now has a $375.00 price target on the stock, up from their previous price target of $212.00. Celestica traded as high as $346.20 and last traded at $344.57. Approximately 2,303,168 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 4,000,873 shares. The stock had previously closed at $322.10.

CLS has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Stifel Nicolaus reiterated a “buy” rating and set a $385.00 target price (up previously from $230.00) on shares of Celestica in a report on Wednesday, October 29th. New Street Research set a $400.00 target price on Celestica in a research note on Wednesday, October 29th. Royal Bank Of Canada lifted their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, UBS Group increased their price objective on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.00.

Insider Buying and Selling at Celestica

In related news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director directly owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp purchased a new stake in Celestica during the 3rd quarter valued at $31,000. Golden State Wealth Management LLC boosted its stake in Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. Avion Wealth purchased a new position in shares of Celestica in the third quarter worth $40,000. Finally, Fifth Third Bancorp boosted its position in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after buying an additional 56 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Celestica Trading Up 7.0%

The stock has a 50-day simple moving average of $266.82 and a two-hundred day simple moving average of $189.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The firm has a market cap of $39.63 billion, a PE ratio of 55.94 and a beta of 1.85.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

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.