Celestica Inc. (NYSE:CLS) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS have been given an average rating of "Moderate Buy" by the eight research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $33.88.

Several research analysts recently commented on CLS shares. Royal Bank of Canada lifted their target price on shares of Celestica from $33.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 31st. Canaccord Genuity Group lifted their target price on shares of Celestica from $32.50 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. BMO Capital Markets lifted their target price on shares of Celestica from $32.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 31st. StockNews.com cut shares of Celestica from a "buy" rating to a "hold" rating in a report on Wednesday, February 28th. Finally, CIBC lifted their price target on shares of Celestica from $33.00 to $41.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st.

Hedge Funds Weigh In On Celestica

Several large investors have recently modified their holdings of the stock. WCM Investment Management LLC purchased a new stake in shares of Celestica during the 4th quarter valued at about $67,832,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company's stock valued at $149,153,000 after acquiring an additional 2,054,918 shares during the period. Shannon River Fund Management LLC bought a new position in shares of Celestica during the 3rd quarter valued at approximately $41,565,000. Point72 Asset Management L.P. boosted its stake in Celestica by 72.9% in the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company's stock worth $99,163,000 after purchasing an additional 1,428,071 shares during the period. Finally, Point72 Hong Kong Ltd boosted its stake in Celestica by 411.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company's stock worth $47,654,000 after purchasing an additional 1,309,257 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Price Performance

Shares of CLS stock traded down $1.28 during trading hours on Friday, hitting $44.74. 1,691,334 shares of the company's stock were exchanged, compared to its average volume of 2,195,607. The company has a market capitalization of $5.34 billion, a PE ratio of 22.04 and a beta of 2.22. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12. The business's 50 day simple moving average is $43.43 and its 200-day simple moving average is $33.04. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. On average, equities research analysts anticipate that Celestica will post 2.59 earnings per share for the current year.

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.