Celestica (NYSE:CLS) Trading 0.5% Higher

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price traded up 0.5% on Thursday . The company traded as high as $55.82 and last traded at $55.55. 291,455 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,276,033 shares. The stock had previously closed at $55.30.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLS. Stifel Nicolaus raised their price objective on Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a report on Monday, May 13th. CIBC raised their target price on shares of Celestica from $49.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, May 27th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Canaccord Genuity Group raised their price objective on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada boosted their target price on Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Sunday, April 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.22.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The stock’s 50-day moving average price is $52.07 and its 200-day moving average price is $42.80. The company has a market cap of $6.81 billion, a P/E ratio of 21.38 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.66 EPS 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 analysts’ expectations of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Equities analysts anticipate that Celestica Inc. will post 2.87 EPS for the current year.

Institutional Trading of Celestica

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after buying an additional 8,368,293 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Celestica during the 4th quarter worth approximately $67,832,000. Point72 Asset Management L.P. increased its stake in Celestica by 72.9% in the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares during the last quarter. Point72 Hong Kong Ltd raised its position in Celestica by 411.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after purchasing an additional 1,309,257 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Celestica in the 4th quarter valued at $26,755,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.