Celestica (NYSE:CLS) Shares Gap Up Following Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price gapped up before the market opened on Monday after BMO Capital Markets raised their price target on the stock from $53.00 to $63.00. The stock had previously closed at $55.71, but opened at $56.91. BMO Capital Markets currently has an outperform rating on the stock. Celestica shares last traded at $56.15, with a volume of 403,800 shares trading hands.

Several other equities analysts also recently issued reports on CLS. Stifel Nicolaus upped their target price on Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Canaccord Genuity Group increased their price objective on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their target price on Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Sunday, April 28th. CIBC increased their price target on shares of Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, May 27th. Finally, StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.22.

Institutional Investors Weigh In On Celestica

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Celestica in the 1st quarter valued at $110,000. Cetera Advisors LLC acquired a new position in shares of Celestica in the first quarter worth about $367,000. Invst LLC purchased a new stake in shares of Celestica during the 1st quarter worth about $206,000. Janus Henderson Group PLC acquired a new stake in shares of Celestica during the 1st quarter valued at about $1,040,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Celestica in the 1st quarter valued at about $1,659,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Trading Up 3.6 %

The stock has a market cap of $7.02 billion, a PE ratio of 22.05 and a beta of 2.28. The company has a 50 day moving average of $50.19 and a two-hundred day moving average of $41.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Sell-side analysts anticipate that Celestica Inc. will post 2.87 earnings per share 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.