Zacks Research Upgrades Celestica (NYSE:CLS) to “Strong-Buy”

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other brokerages also recently issued reports on CLS. BWS Financial reaffirmed a “buy” rating on shares of Celestica in a report on Tuesday, July 28th. Bank of America reaffirmed a “buy” rating on shares of Celestica in a research report on Wednesday, July 29th. Canaccord Genuity Group lifted their price objective on Celestica from $455.00 to $480.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Royal Bank Of Canada set a $450.00 target price on Celestica and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Finally, Stifel Nicolaus set a $500.00 target price on Celestica in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Celestica presently has an average rating of “Buy” and an average price target of $453.32.

Celestica Price Performance

Shares of NYSE CLS opened at $236.31 on Tuesday. The firm has a market cap of $29.80 billion, a P/E ratio of 22.36, a PEG ratio of 0.70 and a beta of 2.10. Celestica has a twelve month low of $231.48 and a twelve month high of $474.02. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $321.56 and a 200 day moving average of $330.25.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.02 by $0.28. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.39 billion. Celestica had a return on equity of 33.80% and a net margin of 6.83%. As a group, research analysts expect that Celestica will post 10.93 EPS for the current fiscal year.

Insider Activity at Celestica

In other news, CEO Robert Mionis sold 23,496 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the transaction, the chief executive officer owned 23,396 shares in the company, valued at $8,478,476.44. This represents a 50.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Todd Cooper sold 20,118 shares of the firm’s stock in a transaction that occurred on 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 directly owned 73,252 shares in the company, valued at approximately $26,370,720. The trade was a 21.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 67,010 shares of company stock worth $24,278,487 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID increased its stake in shares of Celestica by 14.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company’s stock worth $63,000 after purchasing an additional 28 shares in the last quarter. Capital Planning LLC raised its holdings in Celestica by 3.2% in the 1st quarter. Capital Planning LLC now owns 1,025 shares of the technology company’s stock worth $289,000 after purchasing an additional 32 shares during the period. PCB Capital LLC raised its holdings in Celestica by 3.5% in the 1st quarter. PCB Capital LLC now owns 995 shares of the technology company’s stock worth $280,000 after purchasing an additional 34 shares during the period. Riverbend Wealth Management LLC lifted its position in Celestica by 4.8% during the third quarter. Riverbend Wealth Management LLC now owns 745 shares of the technology company’s stock valued at $269,000 after purchasing an additional 34 shares in the last quarter. Finally, XML Financial LLC lifted its position in Celestica by 1.5% during the second quarter. XML Financial LLC now owns 2,640 shares of the technology company’s stock valued at $963,000 after purchasing an additional 40 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.