Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $43.81, but opened at $42.87. Celestica shares last traded at $43.38, with a volume of 324,637 shares changing hands.
Analyst Ratings Changes
CLS has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on Celestica from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Canaccord Genuity Group boosted their price target on Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. TD Securities boosted their price target on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, CIBC boosted their price target on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.88.
Check Out Our Latest Analysis on CLS
Celestica Stock Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. On average, research analysts predict that Celestica Inc. will post 2.59 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Celestica
Large investors have recently modified their holdings of the business. Clearstead Advisors LLC acquired a new stake in shares of Celestica in the 3rd quarter valued at $32,000. Financial Management Professionals Inc. bought a new position in shares of Celestica in the 3rd quarter valued at $34,000. Principal Securities Inc. bought a new position in shares of Celestica in the 4th quarter valued at $42,000. Blue Trust Inc. lifted its stake in shares of Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after acquiring an additional 1,384 shares during the last quarter. Finally, US Bancorp DE bought a new position in Celestica during the 4th quarter worth $74,000. Institutional investors and hedge funds own 67.38% of the company’s stock.
About Celestica
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.
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