Celestica (NYSE:CLS) Sets New 1-Year High - Here's Why

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS reached a new 52-week high during trading on Friday . The company traded as high as $98.03 and last traded at $97.88, with a volume of 600841 shares traded. The stock had previously closed at $91.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CLS shares. Barclays assumed coverage on shares of Celestica in a report on Tuesday, November 5th. They set an "overweight" rating and a $91.00 price target for the company. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. TD Cowen boosted their price target on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective on Celestica from $70.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Royal Bank of Canada upped their target price on Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.18.

Celestica Price Performance

The stock has a market capitalization of $11.54 billion, a P/E ratio of 31.49 and a beta of 2.27. The company has a 50 day moving average of $76.65 and a 200-day moving average of $61.09. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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

Institutional Trading of Celestica

Hedge funds have recently made changes to their positions in the stock. Westover Capital Advisors LLC lifted its position in Celestica by 20.9% in the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company's stock valued at $1,248,000 after purchasing an additional 3,764 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company's stock valued at $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica during the third quarter valued at approximately $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica during the third quarter worth approximately $420,000. Finally, Advisors Asset Management Inc. grew its holdings in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock worth $1,682,000 after buying an additional 12,584 shares in the last quarter. Institutional investors 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.