Celestica (NYSE:CLS) Trading Up 4.2% - Here's What Happened

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shot up 4.2% on Tuesday . The company traded as high as $131.36 and last traded at $133.69. 196,756 shares changed hands during trading, a decline of 94% from the average session volume of 3,292,196 shares. The stock had previously closed at $128.24.

Analysts Set New Price Targets

CLS has been the subject of several research analyst reports. BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. BMO Capital Markets reissued an "outperform" rating and issued a $130.00 price objective (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. CIBC cut their target price on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $116.64.

Celestica Trading Up 2.4%

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $15.18 billion, a PE ratio of 35.11 and a beta of 1.74. The business's fifty day moving average is $102.96 and its 200 day moving average is $101.52.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The company's revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. As a group, analysts predict that Celestica Inc. will post 4.35 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new position in Celestica in the 1st quarter valued at $26,000. ORG Partners LLC purchased a new position in Celestica in the 1st quarter worth approximately $29,000. Peregrine Capital Management LLC purchased a new stake in Celestica during the 4th quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in shares of Celestica in the first quarter worth about $30,000. Finally, Pinpoint Asset Management Ltd boosted its stake in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

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.

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