Celestica (NYSE:CLS) Raised to “Buy” at Wall Street Zen

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

CLS has been the topic of a number of other reports. Zacks Research upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Scotiabank initiated coverage on shares of Celestica in a research note on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 target price on the stock. FBN Securities began coverage on shares of Celestica in a research report on Tuesday, September 15th. They set an “outperform” rating and a $375.00 price target on the stock. Royal Bank Of Canada set a $450.00 price target on Celestica and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus set a $500.00 price objective on Celestica in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Celestica currently has an average rating of “Buy” and a consensus target price of $453.32.

Celestica Stock Up 0.0%

Shares of Celestica stock opened at $206.77 on Friday. The business has a 50-day moving average of $317.31 and a 200-day moving average of $329.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03. The company has a market capitalization of $26.08 billion, a PE ratio of 19.56, a P/E/G ratio of 1.45 and a beta of 2.11. Celestica has a 1-year low of $197.50 and a 1-year high of $474.02.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.02 by $0.28. Celestica had a return on equity of 33.80% and a net margin of 6.83%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.39 billion. As a group, equities analysts forecast that Celestica will post 10.97 EPS for the current fiscal year.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 23,396 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total value of $8,521,291.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Todd C. Cooper sold 20,118 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the transaction, the president owned 73,252 shares in the company, valued at approximately $26,370,720. The trade was a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 67,010 shares of company stock valued at $24,278,487. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the business. Washington Trust Advisors Inc. bought a new stake in shares of Celestica during the 2nd quarter worth about $28,000. Elevation Wealth Partners LLC bought a new position in shares of Celestica in the third quarter valued at approximately $28,000. Ascentis Independent Advisors bought a new position in shares of Celestica in the first quarter valued at approximately $29,000. Latitude Advisors LLC bought a new position in shares of Celestica in the third quarter valued at approximately $40,000. Finally, Mather Group LLC. increased its stake in shares of Celestica by 266.7% during the third quarter. Mather Group LLC. now owns 121 shares of the technology company’s stock valued at $44,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM’s manufacturing operations and became an independent company in 1996.