Celestica (NYSE:CLS) Stock Price Up 4.2% on Analyst Upgrade

by · The Markets Daily

Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s stock price rose 4.2% during mid-day trading on Wednesday after TD Securities raised their price target on the stock from $61.00 to $68.00. TD Securities currently has a buy rating on the stock. Celestica traded as high as $58.07 and last traded at $58.03. Approximately 730,941 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 2,207,170 shares. The stock had previously closed at $55.71.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. CIBC boosted their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, September 9th. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Check Out Our Latest Stock Analysis on CLS

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. bought a new position in shares of Celestica in the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC boosted its holdings in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Naples Money Management LLC grew its position in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after purchasing an additional 450 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Celestica in the second quarter worth $59,000. Finally, Byrne Asset Management LLC raised its position in shares of Celestica by 52.8% in the second quarter. Byrne Asset Management LLC now owns 1,910 shares of the technology company’s stock worth $109,000 after buying an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 5.5 %

The company has a market cap of $7.28 billion, a PE ratio of 22.86 and a beta of 2.28. The stock has a 50-day moving average of $49.88 and a 200-day moving average of $51.22. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was up 23.3% compared to the same quarter last year. Sell-side analysts predict that Celestica Inc. will post 3.22 earnings per share for the current fiscal year.

Celestica Company Profile

(Get Free Report)

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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