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

Key Points

• Celestica's stock reached a new 52-week high, trading at $173.71, marking a significant increase from the previous close of $170.22.
• Analyst ratings show a positive outlook, with nine analysts rating it a buy, and JPMorgan raising its price target to $170.00, while two analysts set a strong buy rating.
• Investors have shown increased interest in Celestica, with institutional ownership growing to 67.38% of the company's stock, driven by acquisitions from several firms.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $173.71 and last traded at $173.53, with a volume of 4716781 shares changing hands. The stock had previously closed at $170.22.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of recent analyst reports. Royal Bank Of Canada boosted their target price on shares of Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday. Argus lowered their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Canaccord Genuity Group lifted their price target on shares of Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price target (up from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $168.92.

Celestica Trading Down 3.1%

The business's 50-day moving average price is $144.61 and its 200 day moving average price is $115.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market capitalization of $22.26 billion, a price-to-earnings ratio of 41.96 and a beta of 1.81.

Institutional Trading of Celestica

Institutional investors have recently added to or reduced their stakes in the stock. Consolidated Planning Corp acquired a new stake in Celestica in the first quarter valued at $3,361,000. Summerhill Capital Management lnc. acquired a new stake in Celestica in the first quarter valued at $2,283,000. Mackenzie Financial Corp raised its holdings in Celestica by 39.3% in the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock valued at $70,164,000 after acquiring an additional 214,872 shares in the last quarter. FMR LLC raised its holdings in Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after acquiring an additional 5,574,342 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Celestica in the first quarter valued at $819,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.