UBS Group Initiates Coverage on Celestica (NYSE:CLS)

UBS Group assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $95.00 price target on the technology company’s stock. UBS Group’s price target suggests a potential upside of 6.55% from the company’s previous close.

Other equities analysts also recently issued reports about the company. TD Cowen lifted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group raised their target price 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. Stifel Nicolaus upped their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, TD Securities raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.45.

Celestica Stock Down 2.5 %

CLS stock opened at $89.16 on Friday. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 28.30 and a beta of 2.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The business’s 50-day moving average is $64.95 and its two-hundred day moving average is $57.23. Celestica has a fifty-two week low of $25.83 and a fifty-two week high of $93.15.

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 analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. As a group, analysts forecast that Celestica will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Optimum Investment Advisors boosted its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the 3rd quarter worth about $30,000. UMB Bank n.a. purchased a new stake in shares of Celestica during the 3rd quarter valued at about $34,000. Wolff Wiese Magana LLC lifted 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 acquiring an additional 170 shares during the last quarter. Finally, Private Trust Co. NA grew its position in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after acquiring an additional 720 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

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.