Celestica (NYSE:CLS) (TSE:CLS) had its target price boosted by Citigroup from $5.00 to $7.50 in a research report report published on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has a sell rating on the technology company’s stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Celestica from a buy rating to a hold rating in a report on Monday, June 29th. BMO Capital Markets lowered their price objective on Celestica from $9.50 to $7.00 and set a market perform rating on the stock in a report on Thursday, April 30th. TheStreet cut Celestica from a c- rating to a d rating in a report on Wednesday, April 29th. ValuEngine cut Celestica from a buy rating to a hold rating in a report on Friday, May 1st. Finally, Royal Bank of Canada lifted their price objective on Celestica from $7.50 to $8.50 and gave the stock a sector perform rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $8.35.
NYSE:CLS opened at $8.27 on Thursday. Celestica has a 52 week low of $2.63 and a 52 week high of $9.29. The company has a quick ratio of 1.03, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.07 billion, a PE ratio of -413.29, a price-to-earnings-growth ratio of 1.01 and a beta of 2.17. The stock’s 50-day moving average price is $6.81 and its 200-day moving average price is $6.36.
Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.10. Celestica had a positive return on equity of 5.10% and a negative net margin of 0.07%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that Celestica will post 0.61 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its position in shares of Celestica by 3.2% during the 2nd quarter. CIBC Asset Management Inc now owns 75,220 shares of the technology company’s stock valued at $515,000 after buying an additional 2,303 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Celestica by 4.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 64,128 shares of the technology company’s stock valued at $438,000 after buying an additional 2,609 shares during the period. Verus Capital Partners LLC raised its position in shares of Celestica by 28.3% during the 1st quarter. Verus Capital Partners LLC now owns 19,816 shares of the technology company’s stock valued at $69,000 after buying an additional 4,365 shares during the period. US Bancorp DE raised its position in shares of Celestica by 169.1% during the 1st quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock valued at $27,000 after buying an additional 4,861 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Celestica by 43.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,776 shares of the technology company’s stock valued at $123,000 after buying an additional 5,396 shares during the period. 62.59% of the stock is currently owned by institutional investors and hedge funds.
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.
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