Celestica (NYSE:CLS) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of Celestica (NYSE:CLS – Get Rating) (TSE:CLS) in a research report issued to clients and investors on Thursday. The brokerage set a “strong-buy” rating on the technology company’s stock.

Several other brokerages have also weighed in on CLS. Citigroup lifted their price objective on Celestica from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, January 27th. BMO Capital Markets boosted their price target on Celestica from $14.00 to $15.50 and gave the company an “outperform” rating in a research note on Friday, January 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 price target on shares of Celestica in a research note on Thursday, February 23rd. Finally, TD Securities boosted their price target on Celestica from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Friday, January 27th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.58.

Celestica Price Performance

Shares of NYSE:CLS opened at $11.87 on Thursday. Celestica has a 1-year low of $8.21 and a 1-year high of $14.28. The firm has a market capitalization of $1.44 billion, a PE ratio of 10.06 and a beta of 2.11. The business’s 50 day moving average is $12.96 and its 200-day moving average is $11.21. The company has a current ratio of 1.42, a quick ratio of 0.65 and a debt-to-equity ratio of 0.44.

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Celestica had a return on equity of 14.91% and a net margin of 2.01%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm earned $0.44 EPS. Celestica’s revenue for the quarter was up 35.1% compared to the same quarter last year. Sell-side analysts predict that Celestica will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently bought and sold shares of CLS. JPMorgan Chase & Co. raised its position in Celestica by 120.3% in the 1st quarter. JPMorgan Chase & Co. now owns 193,371 shares of the technology company’s stock valued at $2,303,000 after purchasing an additional 105,576 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Celestica during the first quarter worth $132,000. BlackRock Inc. raised its position in shares of Celestica by 20.3% during the first quarter. BlackRock Inc. now owns 265,505 shares of the technology company’s stock worth $3,162,000 after acquiring an additional 44,885 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Celestica by 57.2% during the first quarter. APG Asset Management N.V. now owns 168,657 shares of the technology company’s stock worth $1,805,000 after acquiring an additional 61,400 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Celestica by 35.4% during the first quarter. Great West Life Assurance Co. Can now owns 12,536 shares of the technology company’s stock worth $158,000 after acquiring an additional 3,276 shares during the last quarter. Institutional investors own 56.26% of the company’s stock.

Celestica Company Profile

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Celestica, Inc engages in the provision of supply chain solutions globally to equipment manufacturers and service providers. It operates through the following segments: Advanced Technology Solutions (ATS), and Connectivity and Cloud Solutions (CCS). The Advanced Technology Solutions (ATS) segment includes aerospace and defense, industrial, smart energy, health tech, and capital equipment businesses.