Celestica (NYSE:CLS) Sees Unusually-High Trading Volume

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw unusually-strong trading volume on Thursday . Approximately 2,068,938 shares traded hands 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

Several equities analysts recently weighed in on CLS shares. TD Securities increased their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on shares of Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. BMO Capital Markets raised 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. Canaccord Genuity Group raised their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus raised their target price on shares of Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Celestica Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The business’s fifty day simple moving average is $44.49 and its two-hundred day simple moving average is $34.25. The company has a market cap of $5.18 billion, a PE ratio of 16.22 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.21%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. On average, analysts predict that Celestica Inc. will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trexquant Investment LP increased its holdings in Celestica by 0.6% in the third quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock valued at $2,170,000 after buying an additional 502 shares in the last quarter. Byrne Asset Management LLC increased its stake in shares of Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares in the last quarter. Guardian Capital Advisors LP increased its stake in shares of Celestica by 8.5% during the fourth quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock worth $256,000 after purchasing an additional 685 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Celestica during the third quarter worth about $32,000. Finally, Blue Trust Inc. increased its stake in shares of Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,384 shares in 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.