Celestica (NYSE:CLS) Coverage Initiated at Bank of America

Investment analysts at Bank of America started coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $400.00 price target on the technology company’s stock. Bank of America‘s target price suggests a potential upside of 16.24% from the company’s current price.

Several other equities research analysts have also weighed in on the company. TD Cowen restated a “hold” rating and issued a $238.00 target price on shares of Celestica in a report on Friday, October 3rd. TD Securities set a $305.00 price target on shares of Celestica and gave the company a “hold” rating in a research report on Wednesday, January 21st. Barclays upped their price objective on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. UBS Group raised their target price on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $344.24.

Celestica Trading Up 3.3%

Shares of NYSE:CLS opened at $344.11 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $39.59 billion, a PE ratio of 56.32 and a beta of 1.87. Celestica has a 1 year low of $58.05 and a 1 year high of $363.40. The firm has a fifty day moving average price of $310.09 and a 200 day moving average price of $264.95.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Analysts expect that Celestica will post 4.35 EPS for the current fiscal year.

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner purchased 6,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the acquisition, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently modified their holdings of CLS. Vanguard Group Inc. boosted its stake in Celestica by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock worth $1,166,093,000 after buying an additional 97,755 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after acquiring an additional 2,596,318 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Celestica by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock worth $473,386,000 after acquiring an additional 88,212 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Celestica by 17.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after acquiring an additional 259,504 shares in the last quarter. Finally, Viking Global Investors LP bought a new stake in Celestica in the third quarter valued at about $424,459,000. 67.38% of the stock is currently owned by institutional investors.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.