Barclays Initiates Coverage on Celestica (NYSE:CLS)

Research analysts at Barclays initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $91.00 price target on the technology company’s stock. Barclays‘s target price suggests a potential upside of 12.32% from the stock’s previous close.

Other analysts have also issued reports about the company. TD Securities boosted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. CIBC raised their price target on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.10.

Celestica Stock Up 7.1 %

Shares of NYSE CLS opened at $81.02 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a 1 year low of $24.37 and a 1 year high of $81.07. The stock’s 50-day simple moving average is $55.59 and its 200-day simple moving average is $53.86. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 25.72 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. Celestica’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. As a group, equities analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC raised its stake in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after acquiring an additional 170 shares in the last quarter. Optimum Investment Advisors raised its stake in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Truist Financial Corp lifted its holdings in 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 purchasing an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after buying an additional 275 shares in the last quarter. Finally, Creative Planning grew its position in Celestica by 4.7% in the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after buying an additional 336 shares in the last quarter. 67.38% of the stock is owned by 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.