Celestica (NYSE:CLS) Reaches New 12-Month High – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $106.59 and last traded at $105.04, with a volume of 190715 shares trading hands. The stock had previously closed at $103.11.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen raised 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. Barclays started coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target for the company. Royal Bank of Canada increased their price target on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. TD Securities boosted their price objective on 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 target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $81.45.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a fifty day moving average of $92.60 and a 200 day moving average of $68.15. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 35.12 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last announced 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. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. As a group, sell-side analysts forecast that Celestica Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction 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 approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Whale Rock Capital Management LLC lifted its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Celestica in the third quarter valued at $61,210,000. Dimensional Fund Advisors LP lifted its stake in Celestica by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares in the last quarter. Driehaus Capital Management LLC grew its position in 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 acquiring an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Celestica by 0.8% in the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after purchasing an additional 9,462 shares in the last quarter. Hedge funds and other institutional investors 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.