Celestica (NYSE:CLS) Downgraded by Wall Street Zen to Hold

Celestica (NYSE:CLS - Get Free Report) TSE: CLS was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Celestica in a report on Monday, April 28th. CIBC lowered their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Celestica Price Performance

CLS stock traded up $3.70 during trading on Thursday, hitting $117.73. The stock had a trading volume of 1,257,781 shares, compared to its average volume of 4,782,406. Celestica has a twelve month low of $40.25 and a twelve month high of $144.27. The company's 50-day moving average price is $89.32 and its two-hundred day moving average price is $96.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market capitalization of $13.61 billion, a P/E ratio of 31.48 and a beta of 1.65.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The business's revenue was up 19.9% on a year-over-year basis. As a group, research analysts predict that Celestica will post 4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Celestica by 151.3% during the 3rd quarter. Barclays PLC now owns 51,848 shares of the technology company's stock valued at $2,651,000 after acquiring an additional 31,219 shares during the period. UMB Bank n.a. lifted its holdings in Celestica by 43.6% during the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company's stock worth $88,000 after buying an additional 288 shares in the last quarter. SG Americas Securities LLC purchased a new position in Celestica in the 4th quarter valued at approximately $162,000. FCG Investment Co grew its stake in shares of Celestica by 2.5% in the fourth quarter. FCG Investment Co now owns 22,362 shares of the technology company's stock worth $2,064,000 after acquiring an additional 542 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica during the fourth quarter worth $385,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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