Celestica (NYSE:CLS) Rating Increased to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of Celestica (NYSE:CLS - Free Report) TSE: CLS to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on CLS. Argus reduced their price target on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Celestica in a report on Monday, April 28th. CIBC decreased their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 15th. Wall Street Zen lowered shares of Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $130.00 price objective (up previously from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $116.64.

Celestica Price Performance

Shares of Celestica stock traded down $5.55 during trading on Wednesday, reaching $125.18. 2,716,202 shares of the company's stock were exchanged, compared to its average volume of 3,304,142. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a 1-year low of $40.25 and a 1-year high of $144.27. The company has a market cap of $14.47 billion, a P/E ratio of 33.47 and a beta of 1.74. The firm's 50-day moving average price is $101.77 and its 200 day moving average price is $101.09.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 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 company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. Celestica's revenue was up 19.9% on a year-over-year basis. As a group, research analysts anticipate that Celestica will post 4.35 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Invst LLC increased its stake in shares of Celestica by 21.1% in the first quarter. Invst LLC now owns 13,610 shares of the technology company's stock valued at $1,073,000 after buying an additional 2,367 shares during the period. GK Wealth Management LLC boosted its position in shares of Celestica by 42.0% during the 1st quarter. GK Wealth Management LLC now owns 4,415 shares of the technology company's stock valued at $348,000 after purchasing an additional 1,306 shares in the last quarter. Intrua Financial LLC bought a new stake in shares of Celestica during the 1st quarter valued at about $298,000. Intech Investment Management LLC bought a new stake in shares of Celestica during the 1st quarter valued at about $3,554,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Celestica during the 1st quarter valued at about $63,000. Institutional investors and hedge funds own 67.38% of the company's stock.

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.