Celestica (NYSE:CLS) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $64.77 and traded as high as $94.18. Celestica shares last traded at $92.30, with a volume of 1,555,157 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CLS. Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. UBS Group initiated coverage on Celestica in a research report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 target price for the company. TD Cowen lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on Celestica from $70.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, Barclays initiated coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an "overweight" rating and a $91.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of "Moderate Buy" and an average target price of $77.82.

Celestica Stock Up 0.8 %

The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 29.55 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm's 50 day simple moving average is $86.77 and its 200-day simple moving average is $64.97.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The business's revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the business. Optimum Investment Advisors boosted its stake in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Truist Financial Corp raised its holdings in Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company's stock worth $631,000 after purchasing an additional 214 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company's stock worth $67,000 after purchasing an additional 275 shares in the last quarter. Pier Capital LLC grew its holdings in Celestica by 0.4% in the third quarter. Pier Capital LLC now owns 93,055 shares of the technology company's stock valued at $4,757,000 after purchasing an additional 335 shares during the last quarter. Finally, Creative Planning increased its position in shares of Celestica by 4.7% in the second quarter. Creative Planning now owns 7,526 shares of the technology company's stock valued at $431,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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.