Fox Advisors Begins Coverage on Celestica (NYSE:CLS)

Fox Advisors started coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $60.00 price target on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. CIBC reiterated a neutral rating and issued a $49.00 price objective (up previously from $41.00) on shares of Celestica in a research report on Friday, April 26th. Canaccord Genuity Group increased their price target on shares of Celestica from $48.00 to $53.00 and gave the company a buy rating in a report on Friday, April 26th. TD Securities upped their target price on shares of Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Royal Bank of Canada increased their target price on shares of Celestica from $47.00 to $53.00 and gave the company an outperform rating in a report on Sunday, April 28th. Finally, StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $44.56.

Celestica Stock Performance

Shares of NYSE:CLS traded down $0.34 during midday trading on Wednesday, hitting $51.72. The stock had a trading volume of 1,333,240 shares, compared to its average volume of 2,278,621. Celestica has a 1 year low of $11.13 and a 1 year 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. The stock has a 50 day moving average price of $45.73 and a two-hundred day moving average price of $36.34. The company has a market capitalization of $6.14 billion, a PE ratio of 19.39 and a beta of 2.25.

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

Institutional Investors Weigh In On Celestica

Large investors have recently bought and sold shares of the stock. Byrne Asset Management LLC lifted its position in shares of Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after acquiring an additional 550 shares in the last quarter. Clearstead Advisors LLC acquired a new stake in shares of Celestica during the 3rd quarter worth about $32,000. UMB Bank n.a. acquired a new stake in shares of Celestica during the 1st quarter worth about $64,000. Principal Securities Inc. purchased a new stake in shares of Celestica during the fourth quarter worth about $42,000. Finally, Blue Trust Inc. raised its position in shares of Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after buying an additional 1,384 shares during the last quarter. 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.