Celestica (NYSE:CLS) Sets New 52-Week High – Still a Buy?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $98.03 and last traded at $97.88, with a volume of 600841 shares trading hands. The stock had previously closed at $91.01.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets increased their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Securities raised their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Finally, Barclays started coverage on shares of Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and an average target price of $74.18.

Celestica Trading Up 5.9 %

The firm’s 50-day simple moving average is $75.75 and its 200 day simple moving average is $60.81. 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 firm has a market cap of $11.21 billion, a P/E ratio of 31.07 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, analysts expect that Celestica Inc. will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter worth $61,210,000. Driehaus Capital Management LLC increased its holdings in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after buying an additional 975,163 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Celestica by 1,697.3% in the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after buying an additional 220,494 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.