Celestica (NYSE:CLS) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Celestica (NYSE:CLS – Get Rating) (TSE:CLS) in a report released on Thursday morning. The brokerage issued a strong-buy rating on the technology company’s stock.

Several other equities research analysts have also commented on the stock. Citigroup increased their price objective on shares of Celestica from $12.00 to $14.00 and gave the company a neutral rating in a research note on Friday, January 27th. TD Securities lifted their price target on Celestica from $13.00 to $14.00 and gave the stock a hold rating in a report on Friday, January 27th. BMO Capital Markets boosted their price objective on Celestica from $14.00 to $15.50 and gave the stock an outperform rating in a research report on Friday, January 27th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $15.00 target price on shares of Celestica in a research report on Thursday, February 23rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $14.58.

Celestica Stock Up 0.8 %

Shares of NYSE:CLS opened at $12.00 on Thursday. The business’s 50 day moving average is $12.99 and its 200 day moving average is $11.23. Celestica has a 12-month low of $8.21 and a 12-month high of $14.28. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 10.17 and a beta of 2.11. The company has a quick ratio of 0.65, a current ratio of 1.42 and a debt-to-equity ratio of 0.44.

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Celestica had a net margin of 2.01% and a return on equity of 14.91%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, sell-side analysts forecast that Celestica will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Celestica by 120.3% in the first quarter. JPMorgan Chase & Co. now owns 193,371 shares of the technology company’s stock valued at $2,303,000 after buying an additional 105,576 shares during the period. Raymond James & Associates bought a new stake in Celestica in the 1st quarter valued at about $132,000. BlackRock Inc. raised its stake in Celestica by 20.3% in the 1st quarter. BlackRock Inc. now owns 265,505 shares of the technology company’s stock valued at $3,162,000 after acquiring an additional 44,885 shares during the period. APG Asset Management N.V. lifted its holdings in Celestica by 57.2% during the first quarter. APG Asset Management N.V. now owns 168,657 shares of the technology company’s stock valued at $1,805,000 after purchasing an additional 61,400 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Celestica by 35.4% during the first quarter. Great West Life Assurance Co. Can now owns 12,536 shares of the technology company’s stock worth $158,000 after purchasing an additional 3,276 shares during the period. Hedge funds and other institutional investors own 56.26% of the company’s stock.

About Celestica

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Celestica, Inc engages in the provision of supply chain solutions globally to equipment manufacturers and service providers. It operates through the following segments: Advanced Technology Solutions (ATS), and Connectivity and Cloud Solutions (CCS). The Advanced Technology Solutions (ATS) segment includes aerospace and defense, industrial, smart energy, health tech, and capital equipment businesses.