Celestica Inc. (CLS) Shares Gap Up to $10.34
Celestica Inc. (NYSE:CLS) gapped up before the market opened on Wednesday . The stock had previously closed at $10.29, but opened at $10.34. Celestica shares last traded at $10.48, with a volume of 84,895 shares traded.
CLS has been the subject of several recent research reports. Macquarie downgraded shares of Celestica from an “outperform” rating to a “neutral” rating in a research report on Friday, July 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Celestica in a research report on Thursday, August 11th. Zacks Investment Research raised shares of Celestica from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, July 27th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Celestica in a research report on Monday, July 25th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $12.71.
The firm’s 50-day moving average price is $10.76 and its 200-day moving average price is $10.50. The company has a market cap of $1.47 billion, a PE ratio of 18.02 and a beta of 1.25.
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Celestica (NYSE:CLS) last posted its earnings results on Thursday, July 21st. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Celestica had a net margin of 1.47% and a return on equity of 10.26%. The firm earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $0.25 EPS. On average, equities analysts anticipate that Celestica Inc. will post $1.17 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. boosted its position in shares of Celestica by 11.1% in the second quarter. Letko Brosseau & Associates Inc. now owns 21,050,036 shares of the company’s stock worth $194,497,000 after buying an additional 2,103,025 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Celestica by 33.9% in the first quarter. 1832 Asset Management L.P. now owns 6,961,368 shares of the company’s stock worth $124,751,000 after buying an additional 1,761,838 shares during the period. Donald Smith & CO. Inc. boosted its position in shares of Celestica by 11.5% in the second quarter. Donald Smith & CO. Inc. now owns 5,314,834 shares of the company’s stock worth $49,428,000 after buying an additional 549,184 shares during the period. Mackenzie Financial Corp boosted its position in shares of Celestica by 2,094.1% in the second quarter. Mackenzie Financial Corp now owns 4,392,568 shares of the company’s stock worth $40,851,000 after buying an additional 4,192,371 shares during the period. Finally, TD Asset Management Inc. boosted its position in shares of Celestica by 3.9% in the second quarter. TD Asset Management Inc. now owns 2,810,657 shares of the company’s stock worth $26,014,000 after buying an additional 105,569 shares during the period. 71.87% of the stock is owned by institutional investors.
Celestica Inc is a provider of supply chain solutions in the communications, consumer, diversified, servers and storage end markets. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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