Celestica Inc. (NYSE:CLS) Given Consensus Rating of “Moderate Buy” by Analysts

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.45.

A number of research firms have recently issued reports on CLS. BMO Capital Markets increased their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. CIBC boosted their price objective on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. TD Securities boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

Celestica Price Performance

Shares of CLS opened at $89.14 on Friday. The business has a 50-day moving average of $64.09 and a 200-day moving average of $56.94. 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 company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 28.30 and a beta of 2.24. Celestica has a 1 year low of $25.83 and a 1 year high of $93.15.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company posted $0.65 earnings per share. Celestica’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Celestica will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Celestica by 2,494.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the third quarter worth approximately $61,210,000. Driehaus Capital Management LLC increased its stake in shares of Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the period. Whale Rock Capital Management LLC increased its position in shares of Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.