Celestica (NYSE:CLS) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLS. TD Cowen upped their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. TD Securities lifted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.82.

Celestica Stock Up 4.1 %

The stock has a market capitalization of $11.28 billion, a PE ratio of 30.77 and a beta of 2.27. The company has a 50 day moving average price of $86.77 and a 200-day moving average price of $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.

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

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the stock. Optimum Investment Advisors grew its holdings in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Celestica during the 3rd quarter worth $30,000. UMB Bank n.a. bought a new stake in shares of Celestica in the third quarter valued at about $34,000. Private Trust Co. NA lifted its position in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in Celestica during the 3rd quarter valued at $51,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.