Zacks Investment Research upgraded shares of Celestica Inc. (NYSE:CLS) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $13.00 price objective on the stock.
According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “
Several other equities analysts have also weighed in on CLS. B. Riley restated a neutral rating and set a $11.00 price target on shares of Celestica in a research report on Monday, July 25th. BMO Capital Markets restated a hold rating on shares of Celestica in a research report on Friday, October 21st. Canaccord Genuity restated a buy rating and set a $12.00 price target on shares of Celestica in a research report on Thursday, August 11th. Finally, Macquarie lowered shares of Celestica from an outperform rating to a neutral rating in a research report on Friday, July 29th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Celestica presently has an average rating of Hold and an average price target of $13.04.
Shares of Celestica (NYSE:CLS) opened at 11.91 on Wednesday. The company’s 50 day moving average is $10.74 and its 200-day moving average is $10.52. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.60 and a beta of 1.18. Celestica has a one year low of $8.07 and a one year high of $12.20.
Celestica (NYSE:CLS) last announced its earnings results on Thursday, October 20th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.13. The company earned $1.55 billion during the quarter. Celestica had a net margin of 2.16% and a return on equity of 12.63%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Equities analysts expect that Celestica will post $1.29 EPS for the current year.
A number of institutional investors have recently modified their holdings of CLS. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Celestica by 34.6% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,148,435 shares of the company’s stock worth $13,804,000 after buying an additional 295,300 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Celestica during the second quarter worth $914,000. ClariVest Asset Management LLC raised its position in shares of Celestica by 116.2% in the second quarter. ClariVest Asset Management LLC now owns 190,032 shares of the company’s stock worth $1,766,000 after buying an additional 102,132 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Celestica during the second quarter worth about $1,896,000. Finally, CIBC World Markets Inc. increased its stake in shares of Celestica by 60.0% in the second quarter. CIBC World Markets Inc. now owns 129,460 shares of the company’s stock worth $1,204,000 after buying an additional 48,540 shares during the last quarter. Hedge funds and other institutional investors own 73.21% of the company’s stock.
Celestica Inc is a provider of supply chain solutions in the communications, consumer, diversified, servers and storage end markets. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.