Celestica (NYSE:CLS) Coverage Initiated by Analysts at Fox Advisors

Fox Advisors began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $60.00 target price on the technology company’s stock.

Several other equities analysts have also recently commented on CLS. Canaccord Genuity Group lifted their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a research report on Friday, April 26th. StockNews.com lowered Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on Celestica from $47.00 to $53.00 and gave the company an outperform rating in a research note on Sunday, April 28th. Stifel Nicolaus raised their price objective on shares of Celestica from $48.00 to $51.00 and gave the stock a hold rating in a report on Monday. Finally, BMO Capital Markets increased their price objective on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Celestica has an average rating of Moderate Buy and an average price target of $44.56.

Celestica Stock Down 0.7 %

Celestica stock traded down $0.34 during trading on Wednesday, hitting $51.72. 1,333,240 shares of the company were exchanged, compared to its average volume of 2,278,621. The company has a market capitalization of $6.14 billion, a P/E ratio of 19.39 and a beta of 2.25. The business’s 50 day moving average is $45.73 and its 200 day moving average is $36.34. Celestica has a 52 week low of $11.13 and a 52 week high of $52.68. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Analysts predict that Celestica will post 2.87 earnings per share for the current year.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after acquiring an additional 8,368,293 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after purchasing an additional 2,054,918 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after buying an additional 64,658 shares during the period. Point72 Asset Management L.P. raised its stake in Celestica by 72.9% in the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after buying an additional 1,428,071 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after acquiring an additional 7,335 shares in the last quarter. Hedge funds and other 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.