Celestica (NYSE:CLS) Stock Rating Lowered by Wall Street Zen

Celestica (NYSE:CLS) (TSE:CLS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on CLS. BNP Paribas reissued an “outperform” rating and set a $300.00 target price on shares of Celestica in a report on Thursday, September 25th. UBS Group lifted their price objective on shares of Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. TD Cowen reiterated a “hold” rating and issued a $238.00 price objective on shares of Celestica in a report on Friday, October 3rd. JPMorgan Chase & Co. increased their price objective on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, TD Securities lifted their target price on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Stock Up 0.6%

Celestica stock opened at $324.86 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The company’s 50-day moving average is $297.53 and its 200-day moving average is $220.11. The firm has a market capitalization of $37.36 billion, a PE ratio of 52.74 and a beta of 1.83. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $363.40.

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

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The stock was bought at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLS. Pinney & Scofield Inc. grew its holdings in shares of Celestica by 20.0% during the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 30 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares in the last quarter. World Equity Group Inc. grew its stake in shares of Celestica by 1.7% during the third quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after buying an additional 38 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Celestica by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after buying an additional 50 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in shares of Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock valued at $45,000 after acquiring an additional 55 shares during the last quarter. 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.