Celestica Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $71.45.
CLS has been the topic of several research analyst reports. Barclays assumed coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TD Securities increased their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets boosted their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.
View Our Latest Report on Celestica
Celestica Stock Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts predict that Celestica will post 3.44 EPS for the current year.
Hedge Funds Weigh In On Celestica
A number of institutional investors have recently modified their holdings of CLS. Sei Investments Co. raised its stake in Celestica by 117.8% during the first quarter. Sei Investments Co. now owns 40,560 shares of the technology company’s stock worth $1,823,000 after acquiring an additional 21,940 shares in the last quarter. Vanguard Group Inc. increased its position in Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock worth $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after purchasing an additional 8,368,293 shares during the last quarter. SVB Wealth LLC bought a new position in Celestica in the 1st quarter valued at approximately $276,000. Finally, Bayesian Capital Management LP acquired a new stake in Celestica in the first quarter valued at approximately $1,659,000. Institutional investors and hedge funds 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.
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