Celestica (NYSE:CLS) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research note released on Monday morning, MarketBeat reports. The firm currently has $58.00 price objective on the technology company’s stock.

A number of other brokerages have also recently commented on CLS. Fox Advisors assumed coverage on Celestica in a report on Wednesday, May 15th. They set an overweight rating and a $60.00 target price for the company. Canaccord Genuity Group lifted their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a buy rating in a report on Friday, July 26th. CIBC upped their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a neutral rating in a research note on Friday, July 26th. StockNews.com cut shares of Celestica from a buy rating to a hold rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets upped 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $58.38.

Celestica Stock Performance

NYSE CLS opened at $45.33 on Monday. The stock has a market cap of $5.38 billion, a PE ratio of 16.91 and a beta of 2.29. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica has a twelve month low of $20.87 and a twelve month high of $63.49. The stock has a fifty day simple moving average of $52.42 and a 200-day simple moving average of $50.39.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Equities analysts anticipate that Celestica will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently bought and sold shares of the stock. Wolff Wiese Magana LLC raised its position in shares of 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 in the last quarter. Principal Securities Inc. acquired a new stake in shares of Celestica during the 4th quarter worth about $42,000. Naples Money Management LLC raised its position in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Celestica during the 2nd quarter worth about $59,000. Finally, UMB Bank n.a. acquired a new stake in shares of Celestica during the 1st quarter worth about $64,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.