Celestica (NYSE:CLS) Sets New 1-Year High - Time to Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS reached a new 52-week high on Wednesday . The company traded as high as $106.59 and last traded at $105.04, with a volume of 190715 shares traded. The stock had previously closed at $103.11.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They set a "neutral" rating and a $95.00 price objective for the company. Barclays began coverage on Celestica in a research note on Tuesday, November 5th. They set an "overweight" rating and a $91.00 price target for the company. Royal Bank of Canada boosted their price target on Celestica from $75.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. TD Cowen raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $81.45.

Celestica Price Performance

The stock's 50 day moving average price is $91.57 and its two-hundred day moving average price is $67.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 34.10 and a beta of 2.25.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business posted $0.65 EPS. The company's revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts anticipate that Celestica Inc. will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael Wilson sold 25,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares of the company's stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Celestica

Large investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica during the third quarter valued at approximately $61,210,000. Driehaus Capital Management LLC boosted its stake in Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company's stock worth $66,770,000 after buying an additional 1,158,823 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock valued at $432,846,000 after buying an additional 975,163 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company's stock valued at $55,451,000 after buying an additional 301,563 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Celestica by 1,697.3% during the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company's stock worth $11,936,000 after acquiring an additional 220,494 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

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.