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

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $71.45.

A number of equities analysts have recently weighed in on the company. CIBC increased their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their target price on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets raised their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, UBS Group began coverage on shares of Celestica in a research report on Friday. They set a “neutral” rating and a $95.00 target price on the stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in shares of Celestica by 117.8% in the 1st quarter. Sei Investments Co. now owns 40,560 shares of the technology company’s stock valued at $1,823,000 after acquiring an additional 21,940 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after purchasing an additional 8,368,293 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Celestica in the first quarter valued at approximately $276,000. Finally, Bayesian Capital Management LP bought a new position in Celestica in the 1st quarter valued at approximately $1,659,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Down 2.5 %

NYSE:CLS opened at $89.14 on Friday. Celestica has a twelve month low of $25.83 and a twelve month high of $93.15. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 28.30 and a beta of 2.24. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $64.09 and its two-hundred day moving average price is $56.94.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm 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%. The business’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. Equities research analysts expect that Celestica will post 3.44 earnings per share for the current fiscal year.

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.