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

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $58.38.

A number of equities research analysts have issued reports on the company. CIBC upped their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus upped their price objective on shares of Celestica from $51.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, July 26th. 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 report on Friday, July 26th. Fox Advisors assumed coverage on shares of Celestica in a report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 price target for the company. Finally, BMO Capital Markets raised their price target on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th.

Celestica Stock Performance

Shares of CLS opened at $54.15 on Thursday. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 20.21 and a beta of 2.31. The company’s fifty day moving average is $54.81 and its 200-day moving average is $49.19. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a 12 month low of $20.55 and a 12 month high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its 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. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. Equities analysts expect that Celestica will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLS. Wolff Wiese Magana LLC increased its stake in Celestica by 32.1% during the second 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 period. Principal Securities Inc. bought a new stake in shares of Celestica during the fourth quarter valued at approximately $42,000. Naples Money Management LLC raised its stake in shares of Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after purchasing an additional 450 shares in the last quarter. Byrne Asset Management LLC lifted its position in Celestica by 78.6% in the first 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 period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Celestica during the second quarter worth $59,000. Institutional investors and hedge funds 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.