Celestica (NYSE:CLS) Stock Rating Lowered by ValuEngine

Celestica (NYSE:CLS) (TSE:CLS) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Tuesday, ValuEngine reports.

A number of other equities analysts have also issued reports on the stock. Citigroup boosted their target price on shares of Celestica from $5.00 to $7.50 and gave the stock a “sell” rating in a research report on Thursday, July 30th. TD Securities boosted their target price on shares of Celestica from $6.50 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Scotiabank boosted their target price on shares of Celestica from $6.50 to $8.50 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Canaccord Genuity raised shares of Celestica from a “hold” rating to a “buy” rating in a report on Thursday, July 30th. Finally, Zacks Investment Research raised shares of Celestica from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $8.63.

Shares of Celestica stock opened at $7.24 on Tuesday. The firm has a fifty day simple moving average of $7.93 and a 200-day simple moving average of $6.25. The company has a current ratio of 1.62, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. Celestica has a 1-year low of $2.63 and a 1-year high of $9.29. The stock has a market capitalization of $934.35 million, a price-to-earnings ratio of -361.82, a PEG ratio of 0.36 and a beta of 2.15.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.10. Celestica had a negative net margin of 0.07% and a positive return on equity of 5.10%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $0.12 earnings per share. Celestica’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Celestica will post 0.76 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC grew its holdings in shares of Celestica by 6.9% in the 2nd quarter. Pzena Investment Management LLC now owns 7,033,313 shares of the technology company’s stock worth $48,038,000 after purchasing an additional 452,236 shares during the last quarter. Morgan Stanley grew its holdings in shares of Celestica by 64.0% in the 1st quarter. Morgan Stanley now owns 3,230,116 shares of the technology company’s stock worth $11,306,000 after purchasing an additional 1,260,575 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Celestica by 325.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,920,200 shares of the technology company’s stock worth $10,256,000 after purchasing an additional 2,234,300 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Celestica by 40.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,445,764 shares of the technology company’s stock worth $8,591,000 after purchasing an additional 701,243 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in shares of Celestica by 42.2% in the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,384,970 shares of the technology company’s stock worth $8,377,000 after purchasing an additional 708,080 shares during the last quarter. 59.55% of the stock is currently 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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Analyst Recommendations for Celestica (NYSE:CLS)

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