Celestica (NYSE:CLS) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $64.77 and traded as high as $94.18. Celestica shares last traded at $92.30, with a volume of 1,555,157 shares changing hands.

Analyst Upgrades and Downgrades

CLS has been the subject of several research reports. TD Cowen raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Securities boosted their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. Finally, Barclays began coverage on shares of Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.82.

Celestica Trading Up 4.1 %

The firm’s 50-day simple moving average is $86.77 and its 200 day simple moving average is $64.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 30.77 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 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. Celestica’s revenue was up 24.8% on a year-over-year basis. Equities analysts expect that Celestica Inc. will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC boosted its stake in shares of Celestica by 13.0% during the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica during the 3rd quarter worth approximately $61,210,000. Dimensional Fund Advisors LP increased its position in Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock valued at $68,024,000 after acquiring an additional 52,807 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after acquiring an additional 1,158,823 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Celestica by 0.8% in the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock worth $68,470,000 after purchasing an additional 9,462 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.