Celestica (NYSE:CLS) Sets New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

Several equities analysts recently commented on CLS shares. Royal Bank of Canada increased their target price on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. TD Securities increased 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, October 24th. TD Cowen increased 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, October 24th. Finally, BMO Capital Markets increased 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, October 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Celestica Stock Performance

The company’s 50-day moving average price is $75.75 and its 200 day moving average price is $60.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market capitalization of $11.21 billion, a PE ratio of 31.07 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts expect that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Optimum Investment Advisors lifted its position in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Truist Financial Corp increased its stake in Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after purchasing an additional 275 shares in the last quarter. Pier Capital LLC increased its stake in Celestica by 0.4% during the 3rd 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 in the last quarter. Finally, Creative Planning increased its stake in Celestica by 4.7% during the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after purchasing an additional 336 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.