Zacks Investment Research downgraded shares of Celestica Inc. (NYSE:CLS) from a buy rating to a hold rating in a research note published on Wednesday morning.

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. “

Other analysts also recently issued research reports about the company. Canaccord Genuity upgraded Celestica from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Friday, July 22nd. Macquarie downgraded Celestica from an outperform rating to a neutral rating in a research report on Friday, July 29th. Finally, B. Riley reissued a neutral rating and set a $11.00 target price on shares of Celestica in a research note on Monday, July 25th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Celestica has a consensus rating of Hold and an average target price of $12.71.

Celestica (NYSE:CLS) opened at 10.47 on Wednesday. The firm’s 50-day moving average price is $10.76 and its 200 day moving average price is $10.50. Celestica has a 52 week low of $8.07 and a 52 week high of $13.36. The company has a market capitalization of $1.47 billion, a PE ratio of 18.02 and a beta of 1.25.

Celestica (NYSE:CLS) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Celestica had a return on equity of 10.26% and a net margin of 1.47%. The firm earned $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Equities research analysts expect that Celestica will post $1.17 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the company. Stevens Capital Management LP purchased a new stake in shares of Celestica during the second quarter valued at $100,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Celestica during the second quarter valued at $104,000. Envestnet Asset Management Inc. boosted its stake in shares of Celestica by 30.8% in the first quarter. Envestnet Asset Management Inc. now owns 10,089 shares of the company’s stock valued at $111,000 after buying an additional 2,377 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Celestica by 2.6% in the second quarter. Prudential Financial Inc. now owns 12,272 shares of the company’s stock valued at $114,000 after buying an additional 316 shares during the last quarter. Finally, Walleye Trading LLC boosted its stake in shares of Celestica by 2.3% in the second quarter. Walleye Trading LLC now owns 14,000 shares of the company’s stock valued at $130,000 after buying an additional 318 shares during the last quarter. 71.87% of the stock is currently owned by institutional investors.

About Celestica

Celestica Inc is a provider of supply chain solutions in the communications, consumer, diversified, servers and storage end markets. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.

5 Day Chart for NYSE:CLS

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