Celestica Inc. (NYSE:CLS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $77.82.

CLS has been the subject of a number of analyst reports. BMO Capital Markets raised their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. TD Securities lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada increased their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC lifted its holdings in Celestica by 13.0% in 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 acquiring an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica during the 3rd quarter valued at about $61,210,000. Dimensional Fund Advisors LP lifted its stake in shares of Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after purchasing an additional 52,807 shares during the period. Driehaus Capital Management LLC boosted its holdings in shares of Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Celestica by 0.8% during the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after buying an additional 9,462 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Stock Up 2.6 %

Shares of NYSE:CLS opened at $95.45 on Wednesday. The firm has a market capitalization of $11.11 billion, a P/E ratio of 30.30 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a 50 day moving average price of $80.35 and a 200-day moving average price of $62.52. Celestica has a 52-week low of $26.62 and a 52-week high of $100.51.

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

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.