Beacon Securities upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a report published on Wednesday morning.
Other research analysts also recently issued reports about the company. TD Securities lifted their price target on Celestica from $11.00 to $12.00 and gave the stock a hold rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Celestica from a sell rating to a hold rating in a research report on Wednesday, June 27th. Finally, Macquarie upgraded Celestica from a neutral rating to an outperform rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $12.50.
Shares of NYSE CLS opened at $10.77 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 15.23 and a beta of 0.57. Celestica has a 12 month low of $9.79 and a 12 month high of $12.75.
Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Tuesday, July 31st. The technology company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.05). The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.61 billion. Celestica had a return on equity of 5.83% and a net margin of 1.24%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, research analysts forecast that Celestica will post 0.47 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Pzena Investment Management LLC bought a new stake in shares of Celestica during the second quarter valued at approximately $33,321,000. CIBC Asset Management Inc increased its position in shares of Celestica by 2,736.7% during the second quarter. CIBC Asset Management Inc now owns 1,481,221 shares of the technology company’s stock valued at $17,614,000 after purchasing an additional 1,429,004 shares during the period. Janus Henderson Group PLC increased its position in shares of Celestica by 27.9% during the second quarter. Janus Henderson Group PLC now owns 4,051,770 shares of the technology company’s stock valued at $48,095,000 after purchasing an additional 884,595 shares during the period. Cumberland Partners Ltd bought a new stake in shares of Celestica during the second quarter valued at approximately $5,176,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Celestica by 27.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,906,535 shares of the technology company’s stock valued at $29,799,000 after purchasing an additional 414,100 shares during the period. Institutional investors and hedge funds own 75.50% of the company’s stock.
Celestica Company Profile
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. The company offers a range of services, including design and development, engineering, 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.
Further Reading: Should you buy a closed-end mutual fund?
Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.