Celestica Inc. (CLS) Shares Gap Up to $11.22
Celestica Inc. (NYSE:CLS) gapped up prior to trading on Wednesday . The stock had previously closed at $11.18, but opened at $11.22. Celestica shares last traded at $11.30, with a volume of 231,413 shares.
A number of brokerages have weighed in on CLS. Zacks Investment Research upgraded Celestica from a “hold” rating to a “strong-buy” rating and set a $13.00 target price for the company in a report on Wednesday. B. Riley reiterated a “neutral” rating and issued a $11.00 target price on shares of Celestica in a report on Monday. Canaccord Genuity upgraded Celestica from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, July 22nd. Macquarie began coverage on Celestica in a report on Wednesday, May 18th. They issued an “outperform” rating for the company. Finally, TD Securities reiterated a “hold” rating and issued a $10.50 target price (up from $10.00) on shares of Celestica in a report on Tuesday, April 26th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Celestica presently has a consensus rating of “Buy” and an average price target of $12.71.
The company has a market cap of $1.59 billion and a P/E ratio of 19.48. The stock’s 50-day moving average is $10.00 and its 200 day moving average is $10.20.
Celestica (NYSE:CLS) last issued its earnings results on Thursday, July 21st. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities analysts forecast that Celestica Inc. will post $1.17 EPS for the current year.
A number of large investors recently modified their holdings of CLS. Dimensional Fund Advisors LP boosted its stake in shares of Celestica by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 291,338 shares of the company’s stock valued at $3,213,000 after buying an additional 26,334 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in Celestica during the fourth quarter valued at $3,477,000. I.G. Investment Management LTD. boosted its stake in Celestica by 12.3% in the fourth quarter. I.G. Investment Management LTD. now owns 183,700 shares of the company’s stock valued at $2,032,000 after buying an additional 20,100 shares during the period. Donald Smith & CO. Inc. boosted its stake in Celestica by 66.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,835,879 shares of the company’s stock valued at $53,340,000 after buying an additional 1,928,798 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Celestica by 26.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,075,107 shares of the company’s stock valued at $11,858,000 after buying an additional 222,154 shares during the period.
Celestica Inc (Celestica) is a provider of supply chain solutions globally to original equipment manufacturers (OEMs) and service providers in the communications, consumer, diversified, servers and storage end markets. 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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