Celestica (NYSE:CLS) Shares Gap Up to $53.88

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $53.88, but opened at $55.78. Celestica shares last traded at $56.19, with a volume of 721,253 shares.

Analyst Ratings Changes

CLS has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on shares of Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada upped their price target on shares of Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Sunday, April 28th. CIBC reiterated a “neutral” rating and issued a $49.00 price target (up from $41.00) on shares of Celestica in a report on Friday, April 26th. BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, StockNews.com upgraded shares of Celestica from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.56.

Celestica Trading Up 4.5 %

The company has a 50 day simple moving average of $46.45 and a two-hundred day simple moving average of $37.34. The firm has a market cap of $6.69 billion, a PE ratio of 21.28 and a beta of 2.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.10 billion. Celestica had a return on equity of 18.25% and a net margin of 3.86%. Analysts expect that Celestica Inc. will post 2.87 EPS for the current fiscal year.

Institutional Trading of Celestica

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after purchasing an additional 8,368,293 shares during the period. WCM Investment Management LLC acquired a new stake in Celestica during the fourth quarter worth $67,832,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after purchasing an additional 2,054,918 shares during the period. Shannon River Fund Management LLC acquired a new position in shares of Celestica in the 3rd quarter valued at $41,565,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after purchasing an additional 1,428,071 shares during the period. Institutional investors and hedge funds 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.