Celestica (NYSE:CLS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Celestica has been upgraded by Wall Street Zen from a "hold" to a "buy" rating, reflecting positive analyst sentiment towards the stock.
• Analysts have varying price targets for Celestica, with Barclays increasing their target from $146.00 to $220.00 and Royal Bank of Canada raising theirs from $185.00 to $225.00.
• The stock currently has a consensus rating of "Buy" with an average target price of $168.92, indicating strong confidence in its future performance.

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

CLS has been the topic of several other research reports. CIBC cut their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. Barclays increased their price target on shares of Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada raised their price objective on shares of Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 target price (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $168.92.

Celestica Price Performance

Shares of NYSE CLS opened at $194.84 on Friday. The company has a market capitalization of $22.40 billion, a PE ratio of 42.17 and a beta of 1.80. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average price is $147.75 and its 200-day moving average price is $116.63. Celestica has a twelve month low of $40.25 and a twelve month high of $214.47.

Institutional Trading of Celestica

A number of institutional investors have recently modified their holdings of CLS. Rothschild Investment LLC purchased a new stake in shares of Celestica during the first quarter worth $26,000. ORG Partners LLC purchased a new stake in Celestica during the 1st quarter worth about $29,000. Center for Financial Planning Inc. bought a new position in Celestica in the 1st quarter worth about $30,000. ST Germain D J Co. Inc. bought a new position in Celestica in the 2nd quarter worth about $37,000. Finally, Bessemer Group Inc. purchased a new position in Celestica during the 4th quarter valued at about $42,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

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