Celestica (NYSE:CLS) Sees Strong Trading Volume

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares saw unusually-high trading volume on Thursday . Approximately 2,068,938 shares were traded during mid-day trading, a decline of 8% from the previous session's volume of 2,244,613 shares.The stock last traded at $45.16 and had previously closed at $44.10.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. CIBC boosted their target price on shares of Celestica from $33.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. TD Securities upped their target price on Celestica from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Canaccord Genuity Group boosted their price target on Celestica from $32.50 to $38.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. BMO Capital Markets raised their price objective on shares of Celestica from $37.00 to $48.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Royal Bank of Canada boosted their target price on shares of Celestica from $38.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.38.

Celestica Stock Performance

The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.16 billion, a PE ratio of 21.31 and a beta of 2.22. The firm's fifty day moving average is $44.42 and its 200 day moving average is $34.18.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.08 billion. As a group, research analysts predict that Celestica Inc. will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC boosted its position in shares of Celestica by 4.6% during the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company's stock valued at $107,782,000 after acquiring an additional 105,943 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Celestica in the 1st quarter valued at about $2,219,000. Elite Wealth Management Inc. purchased a new stake in shares of Celestica in the 1st quarter valued at approximately $2,501,000. Wesbanco Bank Inc. acquired a new stake in shares of Celestica during the 1st quarter worth approximately $1,978,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Celestica by 201.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 68,062 shares of the technology company's stock valued at $3,059,000 after buying an additional 45,508 shares during the period. 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.