Celestica (NYSE:CLS) Stock Lifted to “Strong-Buy” by Zacks Research

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other research firms have also weighed in on CLS. Scotiabank started coverage on Celestica in a report on Tuesday, August 11th. They set a “sector outperform” rating and a $500.00 target price for the company. UBS Group upped their target price on Celestica from $430.00 to $453.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Celestica in a report on Thursday, October 15th. Wolfe Research raised their price target on Celestica from $425.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Bank of America reaffirmed a “buy” rating on shares of Celestica in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $453.32.

Celestica Trading Down 9.1%

Shares of Celestica stock opened at $236.31 on Tuesday. The firm has a market cap of $29.80 billion, a PE ratio of 22.36, a P/E/G ratio of 0.70 and a beta of 2.10. Celestica has a 1 year low of $231.48 and a 1 year high of $474.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03. The stock has a fifty day moving average price of $321.56 and a 200-day moving average price of $330.25.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.28. Celestica had a return on equity of 33.80% and a net margin of 6.83%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.39 billion. Equities research analysts anticipate that Celestica will post 10.93 EPS for the current year.

Insider Buying and Selling at Celestica

In other news, President Todd Cooper sold 20,118 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares of the company’s stock, valued at approximately $26,370,720. This trade represents a 21.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Mionis sold 23,496 shares of Celestica stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the sale, the chief executive officer directly owned 23,396 shares in the company, valued at $8,478,476.44. The trade was a 50.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,010 shares of company stock valued at $24,278,487 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently bought and sold shares of CLS. Washington Trust Advisors Inc. bought a new position in shares of Celestica in the 2nd quarter worth approximately $28,000. Elevation Wealth Partners LLC purchased a new position in shares of Celestica in the 3rd quarter valued at approximately $28,000. Ascentis Independent Advisors purchased a new position in shares of Celestica in the 1st quarter valued at approximately $29,000. Latitude Advisors LLC bought a new stake in shares of Celestica during the third quarter valued at approximately $40,000. Finally, Mather Group LLC. boosted its position in shares of Celestica by 266.7% during the third quarter. Mather Group LLC. now owns 121 shares of the technology company’s stock valued at $44,000 after purchasing an additional 88 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.