Celestica (NYSE:CLS) Receives Neutral Rating from CIBC

CIBC reaffirmed their neutral rating on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report report published on Friday morning, Marketbeat reports. They currently have a $49.00 price objective on the technology company’s stock, up from their prior price objective of $41.00.

A number of other research firms have also weighed in on CLS. TD Securities increased their price target on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, January 31st. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. BMO Capital Markets upped their price target on shares of Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Canaccord Genuity Group raised their price objective on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada increased their target price on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $42.25.

Celestica Trading Up 0.5 %

Shares of NYSE:CLS opened at $43.46 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.22 and a beta of 2.22. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The company has a 50 day moving average price of $44.57 and a 200 day moving average price of $34.48.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 18.21% and a net margin of 3.86%. On average, research analysts anticipate that Celestica will post 2.59 EPS for the current fiscal year.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Celestica in the third quarter valued at about $318,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Celestica in the third quarter valued at approximately $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Celestica by 29.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock valued at $626,000 after acquiring an additional 5,758 shares during the last quarter. Mackenzie Financial Corp grew its position in Celestica by 205.8% in the third quarter. Mackenzie Financial Corp now owns 1,152,790 shares of the technology company’s stock worth $27,334,000 after acquiring an additional 775,761 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Celestica by 29.5% during the 3rd quarter. TD Asset Management Inc now owns 1,283,037 shares of the technology company’s stock worth $31,544,000 after purchasing an additional 292,381 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.