Celestica, Inc. (NYSE:CLS) Given Average Recommendation of “Moderate Buy” by Analysts

Celestica, Inc. (NYSE:CLS) (TSE:CLS) has been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $336.1333.

A number of analysts have recently weighed in on CLS shares. New Street Research set a $400.00 target price on shares of Celestica in a research report on Wednesday, October 29th. Citigroup raised shares of Celestica from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $212.00 to $375.00 in a research note on Monday, November 10th. The Goldman Sachs Group raised their target price on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. CIBC lifted their target price on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $385.00 price target (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th.

Celestica Stock Performance

Celestica stock opened at $303.72 on Friday. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 49.31 and a beta of 1.83. The stock’s 50 day simple moving average is $314.61 and its two-hundred day simple moving average is $239.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last released 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. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. As a group, analysts expect that Celestica will post 4.35 earnings per share for the current fiscal year.

Insider Activity at Celestica

In related news, Director Laurette T. Koellner purchased 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The stock was purchased at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Jones Financial Companies Lllp lifted its holdings in shares of Celestica by 1,103.8% in the 1st 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 during the last quarter. Thompson Davis & CO. Inc. bought a new stake in Celestica during the second quarter worth approximately $328,000. Y Intercept Hong Kong Ltd increased its stake in Celestica by 406.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock worth $8,212,000 after acquiring an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC purchased a new stake in Celestica during the second quarter valued at approximately $343,000. Finally, Light Street Capital Management LLC bought a new stake in shares of Celestica in the 2nd quarter valued at approximately $26,422,000. 67.38% of the stock is currently owned by institutional investors.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.