Celestica (NYSE:CLS) Reaches New 1-Year High After Analyst Upgrade

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares hit a new 52-week high on Friday after TD Securities raised their price target on the stock from $68.00 to $70.00. TD Securities currently has a buy rating on the stock. Celestica traded as high as $68.64 and last traded at $68.64, with a volume of 16959 shares trading hands. The stock had previously closed at $67.94.

A number of other equities analysts have also commented on the stock. TD Cowen lifted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday. Canaccord Genuity Group lifted their price target on shares of Celestica from $53.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price target on shares of Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday. StockNews.com lowered shares of Celestica from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Celestica from $58.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $66.67.

Institutional Investors Weigh In On Celestica

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company's stock valued at $391,147,000 after purchasing an additional 8,368,293 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company's stock valued at $66,770,000 after purchasing an additional 1,158,823 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Celestica by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company's stock valued at $124,924,000 after purchasing an additional 562,157 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Celestica in the 1st quarter valued at $22,669,000. Finally, Broad Peak Investment Holdings Ltd. acquired a new stake in shares of Celestica in the 1st quarter valued at $10,096,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The company's 50 day moving average price is $52.42 and its 200 day moving average price is $52.27. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 25.89 and a beta of 2.28.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The firm's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that Celestica Inc. will post 3.22 earnings per share 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.