Celestica (NYSE:CLS) Shares Gap Up to $48.00

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS gapped up prior to trading on Wednesday . The stock had previously closed at $48.00, but opened at $50.63. Celestica shares last traded at $50.06, with a volume of 749,046 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CLS shares. Canaccord Genuity Group increased their price objective on Celestica from $48.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, April 26th. TD Securities lifted their price objective on Celestica from $33.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. CIBC reaffirmed a "neutral" rating and issued a $49.00 price target (up previously from $41.00) on shares of Celestica in a research note on Friday, April 26th. StockNews.com cut Celestica from a "buy" rating to a "hold" rating in a research report on Wednesday, February 28th. Finally, BMO Capital Markets upped their target price on shares of Celestica from $37.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.56.

Celestica Trading Up 8.4 %

The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 19.42 and a beta of 2.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The company's 50-day moving average is $45.73 and its 200-day moving average is $36.34.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Celestica by 2,494.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company's stock valued at $391,147,000 after purchasing an additional 8,368,293 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company's stock valued at $149,153,000 after buying an additional 2,054,918 shares during the period. Vanguard Group Inc. boosted its stake in Celestica by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company's stock valued at $194,643,000 after acquiring an additional 64,658 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company's stock worth $99,163,000 after acquiring an additional 1,428,071 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company's stock valued at $118,730,000 after acquiring an additional 7,335 shares during the last quarter. Institutional investors and hedge funds 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.