Celestica (NYSE:CLS) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also commented on CLS. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Celestica in a report on Monday, April 28th. Stifel Nicolaus boosted their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Argus reduced their price objective on shares of Celestica from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. BMO Capital Markets restated an “outperform” rating and issued a $130.00 price objective (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $116.64.

Celestica Trading Down 4.2%

Shares of CLS opened at $125.18 on Wednesday. Celestica has a 52-week low of $40.25 and a 52-week high of $144.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average is $101.77 and its two-hundred day moving average is $100.97. The stock has a market cap of $14.47 billion, a PE ratio of 33.47 and a beta of 1.74.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts forecast that Celestica will post 4.35 earnings per share for the current fiscal year.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. FMR LLC grew its position in shares of Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares in the last quarter. FIL Ltd grew its position in shares of Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after buying an additional 3,406,723 shares in the last quarter. Norges Bank acquired a new position in shares of Celestica during the fourth quarter worth about $139,008,000. Polar Capital Holdings Plc grew its position in shares of Celestica by 822.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after buying an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after buying an additional 1,401,877 shares in 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.