Celestica (NYSE:CLS) Lowered to Hold Rating by Wall Street Zen

Celestica (NYSE:CLS) (TSE:CLS) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research firms also recently commented on CLS. The Goldman Sachs Group upped their price objective on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. CICC Research started coverage on Celestica in a report on Tuesday, August 19th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, CIBC lifted their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Price Performance

Shares of CLS opened at $324.86 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The company’s fifty day moving average price is $297.53 and its 200-day moving average price is $218.63. Celestica has a 1-year low of $58.05 and a 1-year high of $363.40. The firm has a market capitalization of $37.36 billion, a PE ratio of 52.74 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the business earned $1.04 EPS. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts predict that Celestica will post 4.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its stake in shares of Celestica by 1,103.8% in the first quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock valued at $1,930,000 after acquiring an additional 22,452 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in Celestica in the second quarter valued at $328,000. Y Intercept Hong Kong Ltd lifted its holdings in Celestica by 406.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock worth $8,212,000 after buying an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Celestica during the 2nd quarter worth about $343,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Celestica by 2.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock valued at $22,356,000 after acquiring an additional 3,221 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.