UBS Group Begins Coverage on Celestica (NYSE:CLS)

UBS Group initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note published on Friday morning, MarketBeat reports. The brokerage issued a neutral rating and a $95.00 price objective on the technology company’s stock.

A number of other brokerages have also recently issued reports on CLS. Stifel Nicolaus boosted their target price on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. CIBC raised their price objective on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Canaccord Genuity Group upped their target price on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.45.

Celestica Stock Down 4.0 %

CLS opened at $85.61 on Friday. The firm has a market cap of $9.96 billion, a P/E ratio of 27.64 and a beta of 2.24. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $64.95 and its 200 day simple moving average is $57.35. Celestica has a 52 week low of $25.83 and a 52 week high of $93.15.

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

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its position in shares of Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the period. Optimum Investment Advisors raised its holdings in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the period. Truist Financial Corp raised its holdings in Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after buying an additional 275 shares in the last quarter. Finally, Pier Capital LLC boosted its holdings in shares of Celestica by 0.4% in the third quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock worth $4,757,000 after buying an additional 335 shares during the period. 67.38% of the stock is currently owned by 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.