Celestica Inc. (NYSE:CLS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $47.22.

Several brokerages recently weighed in on CLS. BMO Capital Markets increased 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. Fox Advisors initiated coverage on Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 price objective for the company. CIBC upped their target price on shares of Celestica from $49.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, May 27th. Royal Bank of Canada lifted their price target on shares of Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Sunday, April 28th. Finally, StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th.

Celestica Stock Up 0.2 %

Shares of NYSE:CLS opened at $57.33 on Wednesday. Celestica has a 52-week low of $14.31 and a 52-week high of $61.06. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $52.07 and a two-hundred day moving average of $43.01. The stock has a market cap of $6.81 billion, a P/E ratio of 21.39 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. On average, research analysts expect that Celestica will post 2.87 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. Principal Securities Inc. purchased a new stake in shares of Celestica during the fourth quarter worth approximately $42,000. Byrne Asset Management LLC raised its holdings in shares of Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after purchasing an additional 550 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Celestica in the 1st quarter valued at $64,000. Covestor Ltd purchased a new stake in shares of Celestica during the 3rd quarter worth $68,000. Finally, Blue Trust Inc. grew its stake in shares of Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,384 shares in the last quarter. Hedge funds and other institutional investors 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.