Celestica (NYSE:CLS) Lifted to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research report report published on Monday morning, MarketBeat.com reports. The brokerage currently has $58.00 price target on the technology company’s stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets raised their target price on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a report on Monday, June 17th. Fox Advisors initiated coverage on Celestica in a report on Wednesday, May 15th. They set an overweight rating and a $60.00 price objective on the stock. Royal Bank of Canada boosted their target price on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, July 22nd. StockNews.com cut Celestica from a buy rating to a hold rating in a research report on Friday, August 2nd. Finally, CIBC lifted their price target on shares of Celestica from $58.00 to $60.00 and gave the company a neutral rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $58.38.

Celestica Trading Up 0.5 %

Shares of NYSE CLS opened at $45.55 on Monday. The business has a 50 day simple moving average of $52.15 and a 200 day simple moving average of $50.35. Celestica has a 52 week low of $20.87 and a 52 week high of $63.49. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 17.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. On average, research analysts predict that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of CLS. Price T Rowe Associates Inc. MD increased its position in Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares during the period. Vanguard Group Inc. increased its holdings in shares of Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock worth $194,643,000 after purchasing an additional 64,658 shares during the period. Point72 Asset Management L.P. raised its position in shares of Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after buying an additional 1,428,071 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Celestica by 0.3% in the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after buying an additional 7,335 shares during the period. Finally, WCM Investment Management LLC grew its position in Celestica by 4.6% during the first quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock worth $107,782,000 after buying an additional 105,943 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

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.