Celestica (NYSE:CLS) Hits New 1-Year High - Here's Why

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $167.75 and last traded at $167.00, with a volume of 1602210 shares changing hands. The stock had previously closed at $156.91.

Analyst Ratings Changes

Several equities research analysts have weighed in on CLS shares. Argus lowered their target price on Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Barclays reiterated an "overweight" rating and issued a $146.00 target price (up from $126.00) on shares of Celestica in a report on Tuesday, June 10th. Citigroup started coverage on Celestica in a report on Monday. They issued a "neutral" rating and a $172.00 target price for the company. Wall Street Zen cut Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, CIBC lowered their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.83.

Celestica Stock Up 2.2%

The company has a 50-day moving average of $138.69 and a 200-day moving average of $112.96. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of 46.18 and a beta of 1.81. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data 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. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. Celestica had a return on equity of 25.57% and a net margin of 4.26%. The company's revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. On average, equities analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. ST Germain D J Co. Inc. acquired a new position in shares of Celestica in the second quarter valued at about $37,000. Rothschild Investment LLC acquired a new position in shares of Celestica in the first quarter valued at about $26,000. Pinpoint Asset Management Ltd increased its holdings in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after purchasing an additional 182 shares during the period. Wolff Wiese Magana LLC grew its holdings in Celestica by 45.6% during the second quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company's stock worth $57,000 after acquiring an additional 114 shares during the period. Finally, ORG Partners LLC acquired a new stake in Celestica during the first quarter worth about $29,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.