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

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.00.

A number of research analysts have issued reports on CLS shares. Canaccord Genuity Group boosted their price target on Celestica from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. TD Securities upped their price objective on Celestica from $23.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Canaccord Genuity Group upped their price objective on Celestica from $16.00 to $24.00 and gave the company a “buy” rating in a report on Friday, July 28th. StockNews.com upgraded Celestica from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, TD Cowen upgraded Celestica from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.50 to $23.00 in a report on Friday, July 28th.

Celestica Trading Up 0.3 %

Shares of CLS stock opened at $28.13 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 1.43. Celestica has a 1 year low of $10.50 and a 1 year high of $28.39. The stock has a fifty day moving average of $24.78 and a two-hundred day moving average of $19.37. The firm has a market capitalization of $3.36 billion, a PE ratio of 16.66 and a beta of 2.14.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Celestica had a return on equity of 16.02% and a net margin of 2.58%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts expect that Celestica will post 2.06 EPS for the current year.

Institutional Investors Weigh In On Celestica

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings in shares of Celestica by 6.4% during the second quarter. Acadian Asset Management LLC now owns 4,042,721 shares of the technology company’s stock valued at $58,714,000 after purchasing an additional 242,872 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Celestica by 9.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,319 shares of the technology company’s stock valued at $309,000 after buying an additional 1,885 shares during the period. Donald Smith & CO. Inc. raised its position in Celestica by 0.5% during the second quarter. Donald Smith & CO. Inc. now owns 5,063,355 shares of the technology company’s stock valued at $73,419,000 after buying an additional 24,449 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Celestica by 12.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,572,843 shares of the technology company’s stock valued at $20,283,000 after buying an additional 168,500 shares during the period. Finally, Foundry Partners LLC acquired a new position in Celestica during the first quarter valued at $3,414,000. 71.33% of the stock is owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through Advanced Technology Solutions, and Connectivity & Cloud Solutions segments. 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.