Celestica (NYSE:CLS) Now Covered by Analysts at UBS Group

Investment analysts at UBS Group initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report issued on Friday, MarketBeat reports. The firm set a “neutral” rating and a $95.00 price target on the technology company’s stock. UBS Group’s target price indicates a potential upside of 6.55% from the company’s current price.

A number of other analysts have also weighed in on the company. TD Securities increased their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $71.45.

Celestica Price Performance

CLS stock opened at $89.16 on Friday. The stock has a market cap of $10.37 billion, a PE ratio of 28.30 and a beta of 2.24. Celestica has a 12 month low of $25.83 and a 12 month high of $93.15. The company has a 50-day moving average price of $64.95 and a 200 day moving average price of $57.23. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The business 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 company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. Equities research analysts anticipate that Celestica will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors boosted its position in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the 3rd quarter valued at about $30,000. UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter worth approximately $34,000. Wolff Wiese Magana LLC raised its stake in shares of Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other 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.