Zacks Investment Research upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. Zacks Investment Research currently has $9.75 price target on the technology company’s stock.
According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “
Several other equities research analysts also recently weighed in on the company. TD Securities cut their price objective on Celestica from $12.00 to $10.00 and set a hold rating on the stock in a report on Friday, February 1st. Macquarie downgraded Celestica from an outperform rating to a neutral rating and set a $10.00 price objective on the stock. in a report on Friday, February 1st. Royal Bank of Canada lowered their target price on Celestica from $12.00 to $10.00 and set a sector perform rating for the company in a research report on Friday, February 1st. Scotiabank lowered Celestica from an outperform rating to a sector perform rating in a research report on Friday, February 1st. Finally, Canaccord Genuity reaffirmed a buy rating and set a $11.00 target price on shares of Celestica in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Celestica currently has a consensus rating of Hold and a consensus target price of $9.96.
NYSE CLS opened at $8.80 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.07 and a current ratio of 1.74. Celestica has a twelve month low of $7.53 and a twelve month high of $12.59. The firm has a market cap of $1.19 billion, a P/E ratio of 12.57, a PEG ratio of 5.53 and a beta of 0.82.
Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.33. Celestica had a return on equity of 7.51% and a net margin of 1.49%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. On average, analysts forecast that Celestica will post 0.39 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Capital Insight Partners LLC raised its position in Celestica by 77.6% during the 1st quarter. Capital Insight Partners LLC now owns 92,105 shares of the technology company’s stock worth $778,000 after purchasing an additional 40,247 shares during the last quarter. First Hawaiian Bank raised its position in Celestica by 51.7% during the 1st quarter. First Hawaiian Bank now owns 45,364 shares of the technology company’s stock worth $383,000 after purchasing an additional 15,466 shares during the last quarter. Geode Capital Management LLC bought a new position in Celestica during the 4th quarter worth $211,000. Norges Bank bought a new position in Celestica during the 4th quarter worth $16,836,000. Finally, Squarepoint Ops LLC bought a new position in Celestica during the 4th quarter worth $91,000. 65.76% of the stock is owned by institutional investors and hedge funds.
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, and after-market repair and return services.
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