StockNews.com Lowers Celestica (NYSE:CLS) to Hold

StockNews.com downgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a buy rating to a hold rating in a report issued on Friday morning.

CLS has been the topic of several other reports. CIBC lifted their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a neutral rating in a research note on Friday, July 26th. Fox Advisors began coverage on shares of Celestica in a research note on Wednesday, May 15th. They issued an overweight rating and a $60.00 target price on the stock. Canaccord Genuity Group lifted 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. Royal Bank of Canada boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Celestica from $51.00 to $58.00 and gave the company a hold rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $58.38.

Celestica Trading Up 1.3 %

CLS stock opened at $46.89 on Friday. The company has a market capitalization of $5.57 billion, a PE ratio of 17.19 and a beta of 2.31. Celestica has a one year low of $20.22 and a one year high of $63.49. The company’s 50 day moving average price is $56.10 and its two-hundred day moving average price is $47.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. As a group, analysts predict that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of Celestica

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Celestica by 2,494.7% during the 1st 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 buying an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after buying an additional 64,658 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after buying an additional 1,428,071 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after buying an additional 7,335 shares in the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of Celestica by 4.6% during the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock valued at $107,782,000 after buying an additional 105,943 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

About Celestica

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.