Celestica (NYSE:CLS) Research Coverage Started at Barclays

Barclays began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note released on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $91.00 price objective on the technology company’s stock.

Several other brokerages also recently weighed in on CLS. CIBC increased their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus increased their price objective 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. Canaccord Genuity Group boosted their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.10.

Celestica Price Performance

CLS stock traded down $0.93 during trading on Tuesday, hitting $84.40. 139,940 shares of the company’s stock traded hands, compared to its average volume of 2,275,306. Celestica has a 52 week low of $24.37 and a 52 week high of $85.67. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 27.10 and a beta of 2.24. The business has a fifty day simple moving average of $56.29 and a 200 day simple moving average of $54.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

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, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. As a group, research analysts expect that Celestica will post 3.44 EPS for the current fiscal year.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors increased its position in 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 buying an additional 200 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the third quarter worth about $30,000. UMB Bank n.a. acquired a new position in shares of Celestica during the third quarter valued at about $34,000. Wolff Wiese Magana LLC raised its position 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 purchasing an additional 170 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in Celestica in the 3rd quarter worth approximately $51,000. Hedge funds and other 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.