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

Celestica, Inc. (NYSE:CLS) (TSE:CLS) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $336.1333.

CLS has been the topic of a number of research analyst reports. CICC Research initiated coverage on shares of Celestica in a report on Tuesday, August 19th. They set an “outperform” rating on the stock. BMO Capital Markets set a $370.00 price target on Celestica and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. TD Securities increased their price objective on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. TD Cowen restated a “hold” rating and issued a $238.00 price objective on shares of Celestica in a research note on Friday, October 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $385.00 target price (up previously from $230.00) on shares of Celestica in a research report on Wednesday, October 29th.

Insiders Place Their Bets

In other news, Director Laurette T. Koellner bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Hedge funds and other institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares during the period. First Horizon Corp acquired a new position in Celestica in the 3rd quarter valued at about $31,000. Golden State Wealth Management LLC grew its stake in shares of Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after buying an additional 83 shares during the period. Avion Wealth acquired a new stake in shares of Celestica during the 3rd quarter worth approximately $40,000. Finally, Fifth Third Bancorp raised its position in shares of Celestica by 48.7% during the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after buying an additional 56 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Trading Up 5.6%

Shares of NYSE CLS opened at $309.17 on Friday. The business has a fifty day moving average price of $277.62 and a 200 day moving average price of $196.17. Celestica has a 1-year low of $58.05 and a 1-year high of $363.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The stock has a market capitalization of $35.56 billion, a P/E ratio of 50.19 and a beta of 1.85.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the business earned $1.04 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. Equities research analysts expect that Celestica will post 4.35 EPS for the current fiscal year.

About Celestica

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.