Celestica (NYSE:CLS) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, June 17th. Royal Bank of Canada lifted their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research report on Monday. Fox Advisors initiated coverage on Celestica in a research note on Wednesday, May 15th. They set an overweight rating and a $60.00 price target on the stock. Stifel Nicolaus raised their price objective on Celestica from $48.00 to $51.00 and gave the stock a hold rating in a research note on Monday, May 13th. Finally, CIBC lifted their target price on Celestica from $49.00 to $58.00 and gave the stock a neutral rating in a report on Monday, May 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $48.33.

Celestica Stock Up 3.7 %

Celestica stock opened at $52.98 on Thursday. The business has a fifty day moving average price of $56.62 and a 200-day moving average price of $46.60. Celestica has a 1-year low of $17.73 and a 1-year high of $63.49. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 19.06 and a beta of 2.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a return on equity of 20.14% and a net margin of 4.16%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts forecast that Celestica will post 2.88 EPS for the current fiscal year.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Vanguard Group Inc. boosted its position in Celestica by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock worth $90,831,000 after purchasing an additional 47,619 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Celestica by 41.8% in the 4th quarter. Raymond James & Associates now owns 47,757 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,072 shares during the period. Blue Trust Inc. boosted its holdings in Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after buying an additional 1,384 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Celestica during the fourth quarter worth $214,000. Finally, Kendall Capital Management grew its position in Celestica by 54.7% during the fourth quarter. Kendall Capital Management now owns 39,990 shares of the technology company’s stock valued at $1,171,000 after buying an additional 14,140 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.