Celestica (NYSE:CLS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on CLS. Wolfe Research lifted their price objective on Celestica from $425.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Royal Bank Of Canada set a $450.00 target price on Celestica and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Scotiabank began coverage on Celestica in a report on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 price target for the company. Barclays lifted their price target on Celestica from $406.00 to $414.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Finally, Weiss Ratings lowered Celestica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $445.14.

Celestica Stock Performance

NYSE:CLS opened at $223.62 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 0.63 and a beta of 2.10. The firm’s fifty day moving average price is $315.80 and its 200 day moving average price is $328.76. Celestica has a 1-year low of $197.50 and a 1-year high of $474.02.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.39 billion. On average, sell-side analysts expect that Celestica will post 10.97 EPS for the current year.

Insider Transactions at Celestica

In other Celestica news, CEO Robert Mionis sold 23,396 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Todd Cooper sold 20,118 shares of Celestica stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the transaction, the president owned 73,252 shares of the company’s stock, valued at approximately $26,370,720. The trade was a 21.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 67,010 shares of company stock worth $24,278,487. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cibc World Market Inc. purchased a new stake in Celestica in the 2nd quarter valued at approximately $757,811,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Celestica during the second quarter worth $674,199,000. Royal Bank of Canada increased its position in Celestica by 13.8% during the first quarter. Royal Bank of Canada now owns 1,283,561 shares of the technology company’s stock worth $361,553,000 after buying an additional 156,040 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Celestica in the second quarter worth $444,899,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Celestica by 94.4% in the third quarter. Pictet Asset Management Holding SA now owns 1,068,473 shares of the technology company’s stock worth $386,578,000 after acquiring an additional 518,798 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM’s manufacturing operations and became an independent company in 1996.