Celestica (NYSE:CLS) Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Celestica (NYSE:CLSGet Rating) (TSE:CLS) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

Other analysts also recently issued reports about the company. Canaccord Genuity Group increased their price target on Celestica from $12.00 to $13.50 in a report on Friday, January 28th. Zacks Investment Research lowered shares of Celestica from a strong-buy rating to a hold rating in a research note on Tuesday, April 5th. Canaccord Genuity Group boosted their price target on shares of Celestica from $12.00 to $13.50 in a report on Friday, January 28th. TD Securities upped their price objective on Celestica from $11.50 to $12.50 and gave the company a hold rating in a research note on Friday, January 28th. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $11.00 to $13.00 and gave the company a sector perform rating in a research note on Friday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $12.50.

CLS stock opened at $11.10 on Tuesday. Celestica has a 52 week low of $7.01 and a 52 week high of $13.40. The company’s 50-day simple moving average is $11.94 and its 200 day simple moving average is $11.06. The company has a market capitalization of $1.38 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.49 and a beta of 2.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.77 and a current ratio of 1.52.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last released its earnings results on Wednesday, January 26th. The technology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Celestica had a return on equity of 11.41% and a net margin of 1.84%. During the same period in the prior year, the company earned $0.26 earnings per share. On average, analysts forecast that Celestica will post 1.61 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Celestica in the 4th quarter worth $12,972,000. Arrowstreet Capital Limited Partnership grew its holdings in Celestica by 28.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,675,940 shares of the technology company’s stock valued at $23,756,000 after buying an additional 589,614 shares in the last quarter. FIL Ltd increased its position in Celestica by 18.3% in the third quarter. FIL Ltd now owns 3,063,742 shares of the technology company’s stock worth $27,212,000 after purchasing an additional 474,911 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Celestica by 158.3% in the 4th quarter. Millennium Management LLC now owns 727,562 shares of the technology company’s stock worth $8,098,000 after buying an additional 445,852 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its position in Celestica by 8.6% during the third quarter. Donald Smith & CO. Inc. now owns 4,979,498 shares of the technology company’s stock valued at $44,218,000 after purchasing an additional 395,239 shares during the period. 60.38% of the stock is currently owned by institutional investors.

Celestica Company Profile (Get Rating)

Celestica Inc provides hardware platform and 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, engineering, supply chain management, new product introduction, 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.

See Also

Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.