Celestica (NYSE:CLS) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Celestica (NYSE:CLS) (TSE:CLS) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on CLS. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. New Street Research set a $400.00 price target on shares of Celestica in a research note on Wednesday, October 29th. CIBC boosted their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Barclays raised their price objective on Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, BNP Paribas reiterated an “outperform” rating and issued a $300.00 target price on shares of Celestica in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Down 1.2%

Shares of NYSE CLS opened at $299.52 on Monday. The company has a market cap of $34.46 billion, a P/E ratio of 48.62 and a beta of 1.83. The firm has a 50-day simple moving average of $315.90 and a two-hundred day simple moving average of $242.66. Celestica has a 1 year low of $58.05 and a 1 year high of $363.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company posted $1.04 EPS. Celestica’s quarterly revenue was up 27.8% on a year-over-year basis. Research analysts anticipate that Celestica will post 4.35 earnings per share for the current year.

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Celestica by 1.5% during the 1st quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock valued at $100,922,000 after purchasing an additional 19,391 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Celestica by 154.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 657,642 shares of the technology company’s stock worth $51,829,000 after purchasing an additional 398,977 shares in the last quarter. Amundi grew its position in Celestica by 182,325.0% during the 1st quarter. Amundi now owns 51,079 shares of the technology company’s stock worth $4,026,000 after purchasing an additional 51,051 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Celestica by 43.2% during the 1st quarter. Advisors Asset Management Inc. now owns 75,732 shares of the technology company’s stock valued at $5,968,000 after purchasing an additional 22,842 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Celestica by 405.5% in the first quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after buying an additional 587,145 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.