Celestica (NYSE:CLS) Upgraded at StockNews.com

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

CLS has been the subject of a number of other reports. Canaccord Genuity Group lifted their price target on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. CIBC lifted their price target 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. Fox Advisors initiated coverage on shares of Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada lifted their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.33.

Celestica Stock Performance

NYSE:CLS traded down $2.31 during mid-day trading on Thursday, reaching $51.08. The stock had a trading volume of 6,867,840 shares, compared to its average volume of 2,276,595. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 19.06 and a beta of 2.31. Celestica has a twelve month low of $16.28 and a twelve month high of $63.49. The business has a 50 day simple moving average of $56.62 and a 200 day simple moving average of $46.60.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 3.86% and a return on equity of 18.25%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, analysts expect that Celestica will post 2.88 earnings per share for the current fiscal year.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Wolff Wiese Magana LLC boosted its holdings in shares of Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Celestica in the 4th quarter valued at $42,000. Naples Money Management LLC boosted its holdings in shares of Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after purchasing an additional 450 shares during the last quarter. Byrne Asset Management LLC boosted 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 during the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Celestica in the 1st quarter valued at $64,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.