Celestica (NYSE:CLS) Stock Price Up 2.3% on Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were up 2.3% during trading on Tuesday after BMO Capital Markets raised their price target on the stock from $53.00 to $63.00. BMO Capital Markets currently has an outperform rating on the stock. Celestica traded as high as $58.92 and last traded at $58.35. Approximately 504,160 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,274,707 shares. The stock had previously closed at $57.02.

Several other equities analysts have also commented on CLS. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. CIBC lifted their price objective on Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, May 27th. Royal Bank of Canada raised their target price on Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Sunday, April 28th. Fox Advisors initiated coverage on Celestica in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Stifel Nicolaus lifted their price objective on Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.22.

Institutional Trading of Celestica

A number of large investors have recently added to or reduced their stakes in CLS. Clearstead Advisors LLC bought a new position in shares of Celestica during the 3rd quarter valued at approximately $32,000. Principal Securities Inc. purchased a new stake in shares of Celestica during the 4th quarter worth $42,000. Byrne Asset Management LLC lifted its stake in shares of Celestica by 78.6% during the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares during the last quarter. UMB Bank n.a. purchased a new stake in shares of Celestica during the 1st quarter worth $64,000. Finally, Covestor Ltd purchased a new stake in shares of Celestica during the 3rd quarter worth $68,000. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 2.3 %

The company has a 50-day moving average of $49.95 and a 200-day moving average of $41.14. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 21.77 and a beta of 2.28. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.10 billion. On average, equities analysts predict that Celestica Inc. will post 2.87 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.