Celestica (NYSE:CLS) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Celestica (NYSE:CLSGet Rating) (TSE:CLS) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $12.00 price target on the technology company’s stock.

According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “

Several other equities analysts have also issued reports on CLS. TD Securities lifted their price target on shares of Celestica from $12.50 to $13.00 and gave the stock a hold rating in a report on Monday, May 2nd. Royal Bank of Canada upped their target price on Celestica from $11.00 to $13.00 and gave the company a sector perform rating in a research report on Friday, January 28th. StockNews.com raised Celestica from a buy rating to a strong-buy rating in a report on Thursday, April 28th. Canaccord Genuity Group upped their price objective on shares of Celestica from $12.00 to $13.50 in a report on Friday, January 28th. Finally, Canaccord Genuity Group lifted their target price on shares of Celestica from $12.00 to $13.50 in a research note on Friday, January 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $12.25.

Shares of NYSE:CLS opened at $10.93 on Wednesday. The company has a market capitalization of $1.36 billion, a PE ratio of 11.88, a P/E/G ratio of 0.44 and a beta of 2.14. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. Celestica has a 12-month low of $7.01 and a 12-month high of $13.40. The business’s fifty day simple moving average is $11.13 and its 200-day simple moving average is $11.31.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last posted its earnings results on Wednesday, April 27th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.48 billion. Celestica had a return on equity of 12.61% and a net margin of 1.93%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Research analysts predict that Celestica will post 1.57 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC raised its stake in Celestica by 25.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 92,200 shares of the technology company’s stock worth $1,026,000 after acquiring an additional 18,700 shares during the last quarter. FIL Ltd raised its stake in shares of Celestica by 18.3% during the 3rd quarter. FIL Ltd now owns 3,063,742 shares of the technology company’s stock valued at $27,212,000 after buying an additional 474,911 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Celestica by 3.5% during the 4th quarter. Shell Asset Management Co. now owns 91,327 shares of the technology company’s stock valued at $1,017,000 after buying an additional 3,071 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Celestica by 15.2% in the fourth quarter. Acadian Asset Management LLC now owns 1,936,057 shares of the technology company’s stock valued at $21,588,000 after acquiring an additional 255,768 shares during the period. Finally, Timelo Investment Management Inc. purchased a new stake in Celestica in the 4th quarter worth approximately $2,550,000. Institutional investors own 61.00% of the company’s stock.

Celestica Company Profile (Get Rating)

Celestica Inc provides hardware platform and 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, engineering, supply chain management, new product introduction, 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.

Featured Articles

Get a free copy of the Zacks research report on Celestica (CLS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.