Celestica (NYSE:CLS) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report report published on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $91.00 price target on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. CIBC raised their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Securities 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. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets upped their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.10.

Celestica Stock Performance

Shares of CLS stock traded down $0.93 during mid-day trading on Tuesday, reaching $84.40. The stock had a trading volume of 139,940 shares, compared to its average volume of 2,275,306. Celestica has a 1-year low of $24.37 and a 1-year high of $85.67. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 27.10 and a beta of 2.24. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average is $56.29 and its 200-day moving average is $54.08.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Celestica’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts forecast that Celestica will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in CLS. Price T Rowe Associates Inc. MD raised its position in Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica during the third quarter worth about $61,210,000. Driehaus Capital Management LLC raised its position in shares of Celestica by 19,876.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after purchasing an additional 1,158,823 shares during the last quarter. Natixis Advisors LLC lifted its stake in Celestica by 1,697.3% in the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after buying an additional 220,494 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd boosted its holdings in Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after buying an additional 183,300 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.