CIBC Reaffirms Neutral Rating for Celestica (NYSE:CLS)

Celestica (NYSE:CLS) (TSE:CLS)‘s stock had its “neutral” rating reissued by research analysts at CIBC in a report issued on Friday, Marketbeat Ratings reports.

Several other research analysts have also recently issued reports on CLS. TD Securities increased their price objective on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a 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 note on Wednesday, January 31st. Royal Bank of Canada lifted their price objective on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. Finally, BMO Capital Markets raised their price objective on shares of Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.38.

Celestica Price Performance

Shares of NYSE CLS opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The company has a market cap of $5.16 billion, a PE ratio of 16.14 and a beta of 2.22. The stock has a fifty day moving average price of $44.49 and a 200 day moving average price of $34.25. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating 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 18.21% and a net margin of 3.86%. Sell-side analysts forecast that Celestica will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Celestica in the 3rd quarter valued at about $318,000. Raymond James Financial Services Advisors Inc. acquired a new position in Celestica during the third quarter valued at approximately $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Celestica by 29.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock worth $626,000 after buying an additional 5,758 shares during the period. Mackenzie Financial Corp grew its stake in Celestica by 205.8% during the third quarter. Mackenzie Financial Corp now owns 1,152,790 shares of the technology company’s stock worth $27,334,000 after buying an additional 775,761 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Celestica by 29.5% in the third quarter. TD Asset Management Inc now owns 1,283,037 shares of the technology company’s stock worth $31,544,000 after acquiring an additional 292,381 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other 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.