Celestica (NYSE:CLS) (TSE:CLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The brokerage presently has a $9.75 price objective on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.80% from the stock’s previous close.
According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “
Several other equities analysts have also recently weighed in on CLS. Canaccord Genuity reaffirmed a “buy” rating and set a $11.00 target price on shares of Celestica in a research note on Tuesday, February 5th. BMO Capital Markets set a $9.00 target price on Celestica and gave the company a “hold” rating in a research note on Saturday, February 2nd. ValuEngine cut Celestica from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. TD Securities lowered their target price on Celestica from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, February 1st. Finally, Royal Bank of Canada lowered their target price on Celestica from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Friday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.96.
CLS traded up $0.10 during trading on Monday, reaching $8.80. The company had a trading volume of 160,700 shares, compared to its average volume of 428,964. The stock has a market capitalization of $1.19 billion, a P/E ratio of 12.57, a P/E/G ratio of 5.53 and a beta of 0.82. Celestica has a 12-month low of $7.53 and a 12-month high of $12.59. The company has a current ratio of 1.74, a quick ratio of 1.07 and a debt-to-equity ratio of 0.49.
Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.33. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Celestica had a return on equity of 7.51% and a net margin of 1.49%. On average, research analysts predict that Celestica will post 0.39 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Goodman Financial Corp lifted its holdings in shares of Celestica by 0.7% during the 4th quarter. Goodman Financial Corp now owns 302,745 shares of the technology company’s stock valued at $2,655,000 after buying an additional 2,240 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Celestica by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 136,556 shares of the technology company’s stock valued at $1,478,000 after buying an additional 6,505 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Celestica by 2.7% during the 4th quarter. Bank of Montreal Can now owns 253,995 shares of the technology company’s stock valued at $2,227,000 after buying an additional 6,652 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Celestica during the 4th quarter valued at about $91,000. Finally, Gluskin Sheff & Assoc Inc. lifted its holdings in shares of Celestica by 100.2% during the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 22,700 shares of the technology company’s stock valued at $199,000 after buying an additional 11,360 shares during the last quarter. 65.76% of the stock is currently owned by institutional investors.
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.
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