Celestica (NYSE:CLS) Sees Large Volume Increase

Celestica Inc. (NYSE:CLS) (TSE:CLS) 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.

Analyst Upgrades and Downgrades

CLS has been the subject of several recent research reports. CIBC lifted their target price on shares of Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Canaccord Genuity Group boosted their price objective on shares of Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets boosted their price objective on shares of Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday. Finally, TD Securities boosted their price objective on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Celestica Stock Down 1.9 %

The stock’s 50-day moving average price is $44.42 and its two-hundred day moving average price is $34.18. The stock has a market capitalization of $5.16 billion, a PE ratio of 21.71 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40.

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

Hedge Funds Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Celestica in the third quarter worth approximately $1,422,000. Jetstream Capital LLC purchased a new position in shares of Celestica in the third quarter worth approximately $2,452,000. American Century Companies Inc. boosted its holdings in shares of Celestica by 82.4% in the third quarter. American Century Companies Inc. now owns 374,693 shares of the technology company’s stock worth $9,170,000 after buying an additional 169,277 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Celestica by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock worth $90,831,000 after buying an additional 47,619 shares during the last quarter. Finally, Shell Asset Management Co. boosted its holdings in shares of Celestica by 1,604.1% in the third quarter. Shell Asset Management Co. now owns 140,264 shares of the technology company’s stock worth $3,440,000 after buying an additional 132,033 shares during the last quarter. 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.