Celestica (NYSE:CLS) Sets New 52-Week High - Time to Buy?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares hit a new 52-week high during trading on Friday . The stock traded as high as $71.15 and last traded at $71.15, with a volume of 811467 shares traded. The stock had previously closed at $68.40.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CLS shares. Canaccord Genuity Group raised their price target on Celestica from $53.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Stifel Nicolaus lifted 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, October 24th. StockNews.com cut Celestica from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. TD Cowen upped their target price on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, CIBC raised their target price on shares of Celestica from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Celestica Trading Up 2.6 %

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 has a market cap of $8.33 billion, a PE ratio of 22.32 and a beta of 2.28. The firm has a fifty day simple moving average of $53.70 and a two-hundred day simple moving average of $52.93.

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, beating analysts' consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. Celestica's revenue was up 24.8% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. Equities analysts forecast that Celestica Inc. will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Forte Capital LLC ADV grew its stake in Celestica by 1,034.9% during the third quarter. Forte Capital LLC ADV now owns 118,691 shares of the technology company's stock valued at $6,067,000 after acquiring an additional 108,233 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Celestica by 40.0% during the third quarter. Van ECK Associates Corp now owns 67,266 shares of the technology company's stock valued at $3,439,000 after buying an additional 19,221 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Celestica by 52.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 61,478 shares of the technology company's stock valued at $3,143,000 after acquiring an additional 21,228 shares during the period. Gladstone Institutional Advisory LLC lifted its position in Celestica by 34.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 9,179 shares of the technology company's stock valued at $469,000 after acquiring an additional 2,348 shares during the last quarter. Finally, Bay Rivers Group boosted its holdings in Celestica by 4.2% in the third quarter. Bay Rivers Group now owns 20,338 shares of the technology company's stock worth $1,040,000 after acquiring an additional 821 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.