Celestica (CLS) Upgraded to Buy at Beacon Securities
A number of other equities analysts have also recently commented on the stock. Macquarie raised shares of Celestica from a neutral rating to an outperform rating in a research note on Wednesday. TD Securities lifted their price objective on shares of Celestica from $11.00 to $12.00 and gave the stock a hold rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research raised shares of Celestica from a sell rating to a hold rating in a research note on Wednesday, June 27th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $12.50.
Shares of NYSE:CLS opened at $10.77 on Wednesday. Celestica has a 52 week low of $9.79 and a 52 week high of $12.75. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.96 and a beta of 0.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.87 and a quick ratio of 1.16.
Several hedge funds have recently added to or reduced their stakes in CLS. Northern Trust Corp purchased a new position in shares of Celestica during the 1st quarter worth about $104,000. Koch Industries Inc. purchased a new position in shares of Celestica during the 1st quarter worth about $164,000. A.R.T. Advisors LLC boosted its stake in shares of Celestica by 66.5% during the 1st quarter. A.R.T. Advisors LLC now owns 103,900 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 41,500 shares during the period. Barclays PLC boosted its stake in shares of Celestica by 144.0% during the 1st quarter. Barclays PLC now owns 237,798 shares of the technology company’s stock worth $2,462,000 after purchasing an additional 140,342 shares during the period. Finally, Foundry Partners LLC boosted its stake in shares of Celestica by 6.6% during the 1st quarter. Foundry Partners LLC now owns 727,751 shares of the technology company’s stock worth $7,532,000 after purchasing an additional 45,032 shares during the period. 75.50% of the stock is owned by hedge funds and other institutional investors.
Celestica Company Profile
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. The company offers a range of services, including design and development, engineering, 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.
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