Celestica, Inc. (CLS) Given Average Recommendation of “Hold” by Brokerages
Celestica, Inc. (NYSE:CLS) (TSE:CLS) has received an average rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.89.
CLS has been the topic of a number of research analyst reports. BidaskClub cut Celestica from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Macquarie cut Celestica from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 22nd. Bank of America Corporation initiated coverage on Celestica in a research note on Thursday, June 15th. They issued a “neutral” rating and a $15.50 target price on the stock. Scotiabank set a $15.00 target price on Celestica and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Celestica in a research note on Friday, July 28th.
Celestica (NYSE CLS) traded down 0.65% during midday trading on Tuesday, hitting $12.32. The company had a trading volume of 69,178 shares. Celestica has a 52 week low of $10.16 and a 52 week high of $14.74. The firm’s 50 day moving average is $11.70 and its 200-day moving average is $13.34. The firm has a market capitalization of $1.76 billion, a P/E ratio of 13.39 and a beta of 0.67.
Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Tuesday, July 25th. The technology company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.08). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. Celestica had a net margin of 2.12% and a return on equity of 13.64%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. On average, equities research analysts expect that Celestica will post $1.27 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in the company. Royce & Associates LP grew its stake in shares of Celestica by 67.5% during the second quarter. Royce & Associates LP now owns 2,814,308 shares of the technology company’s stock valued at $38,218,000 after buying an additional 1,134,594 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Celestica by 11.1% during the second quarter. TD Asset Management Inc. now owns 2,558,640 shares of the technology company’s stock valued at $34,714,000 after buying an additional 255,400 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Celestica by 5.6% during the second quarter. Vanguard Group Inc. now owns 2,479,906 shares of the technology company’s stock valued at $33,677,000 after buying an additional 131,428 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Celestica by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,272,570 shares of the technology company’s stock valued at $30,823,000 after buying an additional 26,526 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its stake in shares of Celestica by 2.3% during the second quarter. Cidel Asset Management Inc. now owns 2,210,219 shares of the technology company’s stock valued at $29,996,000 after buying an additional 50,000 shares during the last quarter. 59.83% of the stock is currently owned by hedge funds and other institutional investors.
Celestica Inc is a provider of supply chain solutions. 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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