Celestica Inc. (NYSE:CLS) Receives $33.88 Average PT from Analysts

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $33.88.

Several research analysts have recently commented on CLS shares. CIBC raised their price target on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. BMO Capital Markets increased their price objective on Celestica from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Canaccord Genuity Group increased their price objective on Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada increased their price objective on Celestica from $33.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Enterprise Bank & Trust Co acquired a new stake in shares of Celestica during the first quarter worth about $212,000. Kingdon Capital Management L.L.C. grew its holdings in shares of Celestica by 12.5% during the fourth quarter. Kingdon Capital Management L.L.C. now owns 225,000 shares of the technology company’s stock worth $6,588,000 after buying an additional 25,000 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Celestica by 12.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,529 shares of the technology company’s stock worth $484,000 after buying an additional 1,800 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after buying an additional 562,157 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of Celestica during the fourth quarter worth about $151,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Trading Down 2.8 %

CLS opened at $44.74 on Friday. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The business has a fifty day simple moving average of $43.43 and a 200-day simple moving average of $33.18. The firm has a market cap of $5.34 billion, a P/E ratio of 22.04 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. On average, equities analysts expect that Celestica will post 2.59 earnings per share for the current year.

Celestica Company Profile

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.