Celestica (NYSE:CLS) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research report report published on Thursday morning.

CLS has been the subject of several other research reports. BMO Capital Markets boosted their target price on shares of Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research note on Monday, June 17th. CIBC boosted their price objective on shares of Celestica from $49.00 to $58.00 and gave the company a neutral rating in a research report on Monday, May 27th. Stifel Nicolaus raised their target price on shares of Celestica from $48.00 to $51.00 and gave the stock a hold rating in a report on Monday, May 13th. Fox Advisors assumed coverage on Celestica in a research note on Wednesday, May 15th. They issued an overweight rating and a $60.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Celestica has a consensus rating of Moderate Buy and a consensus target price of $54.44.

Celestica Stock Performance

Shares of CLS stock opened at $52.67 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 19.65 and a beta of 2.31. Celestica has a one year low of $17.73 and a one year high of $63.49. The company’s 50-day simple moving average is $56.61 and its 200-day simple moving average is $46.80.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a return on equity of 20.14% and a net margin of 4.16%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the business posted $0.55 EPS. Celestica’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities analysts anticipate that Celestica will post 2.88 earnings per share for the current fiscal year.

Institutional Trading of Celestica

Large investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC boosted its position in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares during the period. Naples Money Management LLC lifted its holdings in Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares during the period. Byrne Asset Management LLC grew its position in Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after buying an additional 550 shares in the last quarter. UMB Bank n.a. acquired a new position in Celestica during the 1st quarter valued at about $64,000. Finally, Principal Securities Inc. bought a new stake in shares of Celestica during the 4th quarter worth about $42,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.