Celestica, Inc. (NYSE:CLS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) have been given an average rating of “Moderate Buy” by the seventeen research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $336.1333.

Several brokerages recently commented on CLS. CIBC lifted their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. TD Securities increased their target price on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Finally, UBS Group boosted their price target on Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th.

Insider Activity

In related news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Institutional investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its stake in Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Celestica in the third quarter worth $31,000. Golden State Wealth Management LLC increased its holdings in shares of Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. Avion Wealth purchased a new position in shares of Celestica in the 3rd quarter worth about $40,000. Finally, Fifth Third Bancorp boosted its stake in Celestica by 48.7% in the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after purchasing an additional 56 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

Celestica Trading Down 4.4%

NYSE CLS opened at $304.43 on Wednesday. The firm has a market cap of $35.01 billion, a PE ratio of 49.42 and a beta of 1.83. Celestica has a 1-year low of $58.05 and a 1-year high of $363.40. The stock has a 50-day moving average of $292.98 and a 200-day moving average of $215.75. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the firm earned $1.04 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that Celestica will post 4.35 EPS for the current year.

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.