Celestica (NYSE:CLS) Stock Rating Lowered by Zacks Investment Research

Celestica (NYSE:CLS) (TSE:CLS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “

Several other equities analysts also recently commented on the company. Royal Bank of Canada lowered their price objective on Celestica from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. TheStreet downgraded Celestica from a “c-” rating to a “d” rating in a research note on Wednesday, April 29th. TD Securities upped their price target on Celestica from $4.50 to $6.50 and gave the stock a “hold” rating in a research note on Thursday, April 30th. ValuEngine cut shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Stifel Nicolaus upped their target price on shares of Celestica from $3.50 to $6.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.63.

NYSE CLS opened at $6.69 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.03 and a debt-to-equity ratio of 0.42. Celestica has a 12 month low of $2.63 and a 12 month high of $9.29. The stock has a market cap of $881.41 million, a price-to-earnings ratio of -39.35, a PEG ratio of 0.85 and a beta of 2.18. The company’s 50 day moving average is $6.48 and its two-hundred day moving average is $6.54.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. Celestica had a negative net margin of 0.40% and a positive return on equity of 2.31%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Sell-side analysts forecast that Celestica will post 0.56 EPS for the current year.

Several large investors have recently bought and sold shares of CLS. Verus Capital Partners LLC boosted its stake in Celestica by 28.3% during the first quarter. Verus Capital Partners LLC now owns 19,816 shares of the technology company’s stock worth $69,000 after buying an additional 4,365 shares during the period. US Bancorp DE grew its holdings in Celestica by 169.1% during the 1st quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock valued at $27,000 after purchasing an additional 4,861 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Celestica by 96.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,380 shares of the technology company’s stock worth $43,000 after purchasing an additional 6,073 shares during the period. Janney Montgomery Scott LLC lifted its stake in Celestica by 13.3% in the first quarter. Janney Montgomery Scott LLC now owns 61,519 shares of the technology company’s stock worth $215,000 after purchasing an additional 7,203 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Celestica by 1,072.0% during the first quarter. Tower Research Capital LLC TRC now owns 11,486 shares of the technology company’s stock valued at $40,000 after buying an additional 10,506 shares during the period. 62.56% of the stock is owned by institutional investors and hedge funds.

About Celestica

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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