StockNews.com Lowers Celestica (NYSE:CLS) to Hold

StockNews.com cut shares of Celestica (NYSE:CLS) (TSE:CLS) from a buy rating to a hold rating in a research note published on Friday morning.

CLS has been the topic of several other research reports. Canaccord Genuity Group lifted their target price on Celestica from $53.00 to $70.00 and gave the company a buy rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research report on Monday, July 22nd. CIBC lifted their target price on Celestica from $58.00 to $60.00 and gave the company a neutral rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price objective on Celestica from $51.00 to $58.00 and gave the stock a hold rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price objective on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research report on Monday, June 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $58.38.

Celestica Trading Up 1.3 %

NYSE CLS opened at $46.89 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 17.19 and a beta of 2.31. Celestica has a 52 week low of $20.22 and a 52 week high of $63.49. The business has a 50 day moving average price of $56.10 and a 200-day moving average price of $47.79. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, equities analysts expect that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of Celestica

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after buying an additional 8,368,293 shares during the period. Vanguard Group Inc. raised its stake in shares of Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after purchasing an additional 64,658 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after purchasing an additional 1,428,071 shares during the period. Acadian Asset Management LLC raised its stake in shares of Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after purchasing an additional 7,335 shares during the period. Finally, WCM Investment Management LLC raised its stake in shares of Celestica by 4.6% during the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock valued at $107,782,000 after purchasing an additional 105,943 shares during the period. 67.38% of the stock is currently owned by institutional investors.

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.