Celestica's (CLS) "Neutral" Rating Reaffirmed at UBS Group

Key Points

• UBS Group has raised Celestica's price target significantly from $101.00 to $208.00, while maintaining a "neutral" rating on the stock.
• The stock of Celestica has shown positive momentum, with a 1.4% increase on Wednesday, bringing it to $204.75, amidst a healthy trading volume.
• Multiple analysts have provided varying ratings on Celestica, with a consensus rating of "Moderate Buy" and a price target averaging $161.00.

UBS Group reiterated their neutral rating on shares of Celestica (NYSE:CLS - Free Report) TSE: CLS in a research note published on Wednesday, Marketbeat Ratings reports. They currently have a $208.00 price objective on the technology company's stock, up from their prior price objective of $101.00.

Several other equities research analysts also recently issued reports on the stock. Argus cut their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. CIBC reduced their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada boosted their target price on Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday. Barclays raised their price target on Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Celestica from $115.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a hold rating, ten have assigned 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 $168.92.

Celestica Stock Down 2.5%

Shares of CLS stock traded down $5.02 on Wednesday, hitting $194.84. 4,540,278 shares of the stock were exchanged, compared to its average volume of 3,943,369. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $22.40 billion, a P/E ratio of 42.17 and a beta of 1.80. The business has a 50-day moving average of $147.75 and a 200 day moving average of $116.63. Celestica has a fifty-two week low of $40.25 and a fifty-two week high of $214.47.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in CLS. Rothschild Investment LLC bought a new position in Celestica in the 1st quarter valued at approximately $26,000. ORG Partners LLC acquired a new position in shares of Celestica during the first quarter worth $29,000. Center for Financial Planning Inc. bought a new position in shares of Celestica in the 1st quarter valued at $30,000. Pinpoint Asset Management Ltd boosted its holdings in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in Celestica during the 2nd quarter worth $37,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.