Celestica Inc. (NYSE:CLS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $58.38.

CLS has been the subject of a number of analyst reports. Stifel Nicolaus raised their target price on shares of Celestica from $51.00 to $58.00 and gave the company a “hold” rating in a research note on Friday. BMO Capital Markets raised their target price on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Fox Advisors initiated coverage on shares of Celestica in a research note on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price for the company. Canaccord Genuity Group raised their target price on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity Group raised their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday.

Celestica Stock Performance

Shares of CLS opened at $52.67 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. Celestica has a one year low of $17.73 and a one year high of $63.49. The company has a 50-day simple moving average of $56.61 and a two-hundred day simple moving average of $46.80. The firm has a market capitalization of $6.26 billion, a PE ratio of 19.66 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 20.14%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business posted $0.55 earnings per share. Celestica’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, analysts anticipate that Celestica will post 2.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its position in shares of Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after acquiring an additional 170 shares in the last quarter. Principal Securities Inc. purchased a new stake in Celestica in the fourth quarter worth approximately $42,000. Naples Money Management LLC boosted its holdings in Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in Celestica in the first quarter worth approximately $64,000. Institutional investors own 67.38% of the company’s stock.

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.