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

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $58.38.

Several analysts have recently weighed in on CLS shares. CIBC lifted their price target on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, September 9th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group upped their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Celestica Price Performance

Shares of CLS stock opened at $55.73 on Friday. The stock has a 50 day moving average price of $49.55 and a 200 day moving average price of $51.10. The firm has a market capitalization of $6.62 billion, a P/E ratio of 20.79 and a beta of 2.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. Celestica has a 52-week low of $20.87 and a 52-week high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (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 analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts predict that Celestica will post 3.22 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Large investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its position 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. Truist Financial Corp raised its holdings in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the last quarter. Creative Planning lifted its stake in shares of Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after buying an additional 336 shares during the period. Bay Rivers Group grew its holdings in shares of Celestica by 1.9% during the second quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock valued at $1,119,000 after buying an additional 370 shares during the last quarter. Finally, Naples Money Management LLC increased its position 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 acquiring an additional 450 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.