Celestica (NYSE:CLS) Hits New 12-Month High - Here's Why

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $161.18 and last traded at $158.48, with a volume of 943137 shares. The stock had previously closed at $155.70.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CLS. Argus dropped their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Barclays reaffirmed an "overweight" rating and set a $146.00 price objective (up from $126.00) on shares of Celestica in a report on Tuesday, June 10th. BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price objective (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. BNP Paribas raised shares of Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Celestica has a consensus rating of "Buy" and an average price target of $116.64.

Celestica Trading Up 1.4%

The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The business's fifty day simple moving average is $127.70 and its two-hundred day simple moving average is $108.82. The stock has a market capitalization of $18.52 billion, a P/E ratio of 44.37 and a beta of 1.81.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. Celestica had a net margin of 4.26% and a return on equity of 25.57%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm earned $0.83 EPS. The business's revenue was up 19.9% on a year-over-year basis. As a group, analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently made changes to their positions in CLS. Jones Financial Companies Lllp increased its position in shares of Celestica by 4.6% during the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock worth $188,000 after purchasing an additional 89 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock worth $162,000 after purchasing an additional 90 shares in the last quarter. Freedom Investment Management Inc. increased its position in shares of Celestica by 1.5% during the 1st quarter. Freedom Investment Management Inc. now owns 6,360 shares of the technology company's stock worth $501,000 after purchasing an additional 96 shares in the last quarter. First National Bank of Hutchinson increased its position in shares of Celestica by 2.5% during the 1st quarter. First National Bank of Hutchinson now owns 4,914 shares of the technology company's stock worth $387,000 after purchasing an additional 120 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Celestica by 14.1% during the 1st quarter. Private Trust Co. NA now owns 993 shares of the technology company's stock worth $78,000 after purchasing an additional 123 shares in the last quarter. 67.38% of the stock is 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.