Celestica (NYSE:CLS) Stock Jumps 8.2% – Should You Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 8.2% during mid-day trading on Monday. The company traded as high as $225.26 and last traded at $223.6240. 4,631,549 shares traded hands during trading, an increase of 84% from the average session volume of 2,518,304 shares. The stock had previously closed at $206.68.

Analysts Set New Price Targets

CLS has been the subject of a number of research reports. Stifel Nicolaus set a $500.00 price target on shares of Celestica in a report on Tuesday, July 28th. BMO Capital Markets reiterated an “outperform” rating and set a $400.00 price objective on shares of Celestica in a report on Friday, October 23rd. Wolfe Research increased their price objective on shares of Celestica from $425.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their target price on Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Celestica in a research report on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $445.14.

Celestica Trading Up 8.2%

The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $317.31 and a 200 day moving average price of $329.19. The stock has a market capitalization of $28.20 billion, a PE ratio of 21.16, a P/E/G ratio of 1.45 and a beta of 2.11.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.28. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.39 billion. Celestica had a return on equity of 33.80% and a net margin of 6.83%. Equities analysts expect that Celestica, Inc. will post 10.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert Mionis sold 23,396 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Todd C. Cooper sold 20,118 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares of the company’s stock, valued at $26,370,720. The trade was a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 67,010 shares of company stock valued at $24,278,487. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently modified their holdings of the company. Legacy Wealth Managment LLC ID increased its position in shares of Celestica by 14.4% during the first quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company’s stock valued at $63,000 after acquiring an additional 28 shares during the last quarter. Riverbend Wealth Management LLC lifted its holdings in Celestica by 4.8% during the third quarter. Riverbend Wealth Management LLC now owns 745 shares of the technology company’s stock worth $269,000 after acquiring an additional 34 shares during the period. XML Financial LLC lifted its holdings in Celestica by 1.5% during the second quarter. XML Financial LLC now owns 2,640 shares of the technology company’s stock worth $963,000 after acquiring an additional 40 shares during the period. Sequoia Financial Advisors LLC boosted its position in Celestica by 0.9% in the second quarter. Sequoia Financial Advisors LLC now owns 4,363 shares of the technology company’s stock worth $1,592,000 after purchasing an additional 40 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Celestica by 8.2% in the first quarter. EverSource Wealth Advisors LLC now owns 569 shares of the technology company’s stock worth $160,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM’s manufacturing operations and became an independent company in 1996.