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

Posted by on Aug 6th, 2023

Shares of Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) have earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.06.

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada upgraded shares of Celestica from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $14.00 to $22.00 in a report on Friday, July 28th. TD Cowen upgraded shares of Celestica from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.50 to $23.00 in a research note on Friday, July 28th. Stifel Nicolaus boosted their target price on shares of Celestica from $14.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, July 28th. TD Securities upgraded shares of Celestica from a “hold” rating to a “buy” rating and boosted their target price for the company from $14.50 to $23.00 in a research note on Friday, July 28th. Finally, CIBC upgraded shares of Celestica from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $14.00 to $25.00 in a research report on Friday, July 28th.

Celestica Stock Up 1.4 %

Shares of NYSE:CLS opened at $21.35 on Friday. The stock has a market cap of $2.55 billion, a P/E ratio of 15.47 and a beta of 2.16. The firm has a fifty day moving average price of $15.41 and a 200 day moving average price of $13.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.43 and a quick ratio of 0.63. Celestica has a 1-year low of $8.21 and a 1-year high of $22.68.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. Celestica had a net margin of 2.17% and a return on equity of 15.54%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts predict that Celestica will post 2.06 EPS for the current year.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Celestica during the fourth quarter worth $11,360,000. Millennium Management LLC raised its position in shares of Celestica by 64.7% in the fourth quarter. Millennium Management LLC now owns 2,256,206 shares of the technology company’s stock valued at $25,428,000 after purchasing an additional 885,919 shares during the period. Acadian Asset Management LLC raised its position in shares of Celestica by 26.4% in the first quarter. Acadian Asset Management LLC now owns 3,799,849 shares of the technology company’s stock valued at $48,900,000 after purchasing an additional 792,465 shares during the period. Bank of Montreal Can bought a new position in shares of Celestica in the second quarter valued at about $10,538,000. Finally, Invesco Ltd. raised its position in shares of Celestica by 83.9% in the first quarter. Invesco Ltd. now owns 1,250,131 shares of the technology company’s stock valued at $14,890,000 after purchasing an additional 570,424 shares during the period. 61.93% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

(Get Free Report

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through Advanced Technology Solutions, and Connectivity & Cloud Solutions segments. 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.

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