Celestica, Inc. (NYSE:CLS) (TSE:CLS) had its price target reduced by TD Securities from $13.50 to $11.50 in a research report released on Friday, October 27th. They currently have a hold rating on the technology company’s stock.
Other research analysts have also recently issued reports about the stock. Scotiabank set a $15.00 price objective on shares of Celestica and gave the stock a sector perform rating in a research report on Wednesday, July 26th. BMO Capital Markets dropped their target price on Celestica from $14.50 to $13.40 and set a market perform rating on the stock in a report on Wednesday, July 26th. BidaskClub downgraded Celestica from a sell rating to a strong sell rating in a research report on Friday, July 28th. Canaccord Genuity reiterated a buy rating on shares of Celestica in a research report on Friday, July 28th. Finally, Standpoint Research upgraded Celestica from a hold rating to a buy rating in a research report on Thursday, August 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $13.93.
Shares of Celestica (CLS) opened at $10.56 on Friday. The firm has a market cap of $1,517.32, a price-to-earnings ratio of 10.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.01 and a quick ratio of 1.15. Celestica has a one year low of $9.79 and a one year high of $14.74.
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Celestica declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the business. NorthCoast Asset Management LLC bought a new position in Celestica in the 2nd quarter valued at about $1,885,000. Renaissance Group LLC boosted its stake in shares of Celestica by 8.4% in the 2nd quarter. Renaissance Group LLC now owns 29,261 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,278 shares in the last quarter. KCG Holdings Inc. increased its stake in Celestica by 26.2% during the 1st quarter. KCG Holdings Inc. now owns 24,769 shares of the technology company’s stock valued at $360,000 after purchasing an additional 5,137 shares in the last quarter. UBS Group AG increased its stake in Celestica by 34.6% during the 1st quarter. UBS Group AG now owns 98,357 shares of the technology company’s stock valued at $1,429,000 after purchasing an additional 25,257 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Celestica by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 590,017 shares of the technology company’s stock worth $8,573,000 after acquiring an additional 26,062 shares during the last quarter. 68.93% of the stock is currently owned by hedge funds and other institutional investors.
Celestica Inc is a provider of supply chain solutions. 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.
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