Celestica’s (CLS) Neutral Rating Reiterated at CIBC

CIBC reissued their neutral rating on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note published on Friday, Marketbeat.com reports. The brokerage currently has a $49.00 target price on the technology company’s stock, up from their prior target price of $41.00.

A number of other equities research analysts also recently commented on CLS. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Royal Bank of Canada lifted their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research note on Monday, April 22nd. BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a report on Monday, April 22nd. TD Securities raised their target price on Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity Group upped their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $42.25.

Celestica Trading Up 0.5 %

NYSE:CLS opened at $43.46 on Friday. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $44.57 and its 200-day simple moving average is $34.48. The firm has a market cap of $5.18 billion, a P/E ratio of 16.22 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.21%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Equities analysts anticipate that Celestica will post 2.59 EPS for the current year.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently modified their holdings of the business. WCM Investment Management LLC purchased a new stake in Celestica in the 4th quarter valued at approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after acquiring an additional 2,054,918 shares during the last quarter. Shannon River Fund Management LLC purchased a new stake in shares of Celestica in the third quarter valued at $41,565,000. Point72 Asset Management L.P. boosted its stake in shares of Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its position in Celestica by 411.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock worth $47,654,000 after purchasing an additional 1,309,257 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.