Celestica (NYSE:CLS) Shares Up 4.8% on Analyst Upgrade

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price was up 4.8% on Wednesday after Royal Bank of Canada raised their price target on the stock from $75.00 to $115.00. Royal Bank of Canada currently has an outperform rating on the stock. Celestica traded as high as $102.97 and last traded at $102.94. Approximately 1,263,601 shares were traded during trading, a decline of 19% from the average daily volume of 1,554,904 shares. The stock had previously closed at $98.27.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus boosted their target price on Celestica from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. TD Securities boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. UBS Group started coverage on shares of Celestica in a research report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 target price for the company. Finally, Barclays started coverage on Celestica in a report on Tuesday, November 5th. They set an "overweight" rating and a $91.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.45.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company's stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in Celestica by 85.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,790 shares of the technology company's stock valued at $848,000 after buying an additional 6,820 shares in the last quarter. Natixis Advisors LLC bought a new stake in Celestica in the 2nd quarter valued at $745,000. National Bank of Canada FI lifted its stake in Celestica by 253.9% in the 2nd quarter. National Bank of Canada FI now owns 141,895 shares of the technology company's stock worth $8,162,000 after purchasing an additional 101,795 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Celestica during the 2nd quarter valued at about $2,051,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Celestica during the second quarter valued at about $284,000. Institutional investors own 67.38% of the company's stock.

Celestica Stock Up 4.4 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $11.94 billion, a P/E ratio of 32.58 and a beta of 2.25. The company has a fifty day moving average price of $88.45 and a 200-day moving average price of $65.93.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings data 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 return on equity of 21.58% and a net margin of 4.08%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, research analysts forecast that Celestica Inc. will post 3.44 EPS for the current fiscal year.

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.