Celestica (NYSE:CLS) Lifted to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has $58.00 price target on the technology company’s stock.

Several other brokerages also recently issued reports on CLS. StockNews.com downgraded Celestica from a buy rating to a hold rating in a report on Friday, August 2nd. Fox Advisors initiated coverage on Celestica in a report on Wednesday, May 15th. They set an overweight rating and a $60.00 price target for the company. BMO Capital Markets upped their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, June 17th. Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the stock a buy rating in a report on Friday, July 26th. Finally, CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the stock a neutral rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica currently has a consensus rating of Moderate Buy and an average price target of $58.38.

Celestica Price Performance

Shares of NYSE:CLS opened at $42.56 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a twelve month low of $20.87 and a twelve month high of $63.49. The stock’s 50 day moving average is $52.72 and its 200-day moving average is $50.37. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.88 and a beta of 2.29.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. Celestica’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts forecast that Celestica will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC grew its stake in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Principal Securities Inc. bought a new position in Celestica in the 4th quarter valued at $42,000. Naples Money Management LLC grew its stake in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after purchasing an additional 450 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Celestica during the 2nd quarter worth $59,000. Finally, UMB Bank n.a. bought a new position in shares of Celestica during the 1st quarter worth $64,000. Institutional investors own 67.38% of the company’s stock.

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.