Celestica (NYSE:CLS) Stock Price Up 5%

Celestica Inc. (NYSE:CLS) (TSE:CLS) rose 5% during mid-day trading on Monday . The stock traded as high as $60.55 and last traded at $60.52. Approximately 478,105 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,236,468 shares. The stock had previously closed at $57.62.

Analysts Set New Price Targets

A number of brokerages have commented on CLS. BMO Capital Markets boosted their price objective on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Stifel Nicolaus increased their price objective on shares of Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Fox Advisors initiated coverage on shares of Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price on the stock. Royal Bank of Canada raised 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. Finally, StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.22.

Celestica Trading Up 3.7 %

The business’s 50 day moving average price is $54.52 and its 200-day moving average price is $44.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 22.93 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.86% and a return on equity of 18.25%. Equities analysts expect that Celestica Inc. will post 2.87 EPS for the current year.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in Celestica during the fourth quarter valued at approximately $42,000. Naples Money Management LLC lifted its position in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after acquiring an additional 450 shares during the last quarter. Byrne Asset Management LLC boosted its stake in shares of Celestica by 78.6% during the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after acquiring an additional 550 shares in the last quarter. UMB Bank n.a. acquired a new position in shares of Celestica in the 1st quarter worth $64,000. Finally, Blue Trust Inc. raised its position in shares of Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,384 shares during the period. 67.38% of the stock is currently 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.