Celestica (NYSE:CLS) Trading Up 2.3% on Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price was up 2.3% on Tuesday after BMO Capital Markets raised their price target on the stock from $53.00 to $63.00. BMO Capital Markets currently has an outperform rating on the stock. Celestica traded as high as $58.92 and last traded at $58.35. Approximately 504,160 shares traded hands during trading, a decline of 78% from the average daily volume of 2,274,707 shares. The stock had previously closed at $57.02.

Several other brokerages have also recently commented on CLS. Canaccord Genuity Group raised their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, April 26th. CIBC raised their target price on shares of Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, May 27th. Stifel Nicolaus raised their target price on shares of Celestica from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Fox Advisors initiated coverage on shares of Celestica in a report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price for the company. Finally, Royal Bank of Canada raised their target price on shares of Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Sunday, April 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.22.

Institutional Trading of Celestica

A number of hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP raised its position in Celestica by 0.6% during the third quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock valued at $2,170,000 after acquiring an additional 502 shares in the last quarter. Byrne Asset Management LLC grew its stake in Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after buying an additional 550 shares during the last quarter. Guardian Capital Advisors LP grew its stake in Celestica by 8.5% in the 4th quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after buying an additional 685 shares during the last quarter. Clearstead Advisors LLC acquired a new position in Celestica in the 3rd quarter valued at $32,000. Finally, Blue Trust Inc. grew its stake in Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after buying an additional 1,384 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Up 3.6 %

The business’s 50 day moving average is $50.19 and its 200-day moving average is $41.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 22.05 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.10 billion. Equities analysts anticipate that Celestica Inc. will post 2.87 EPS for the current fiscal year.

Celestica Company Profile

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.