Barclays Begins Coverage on Celestica (NYSE:CLS)

Equities researchers at Barclays assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued on Tuesday, Benzinga reports. The firm set an “overweight” rating and a $91.00 price target on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 25.83% from the company’s current price.

A number of other analysts have also weighed in on CLS. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets raised their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.10.

Celestica Trading Up 3.0 %

Shares of Celestica stock opened at $72.32 on Tuesday. The firm’s 50 day simple moving average is $54.47 and its two-hundred day simple moving average is $53.42. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 22.96 and a beta of 2.24. Celestica has a 12-month low of $24.37 and a 12-month high of $73.18. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Analysts predict that Celestica will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its stake in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 170 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after acquiring an additional 214 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares in the last quarter. Finally, Creative Planning raised its stake in Celestica by 4.7% in the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after purchasing an additional 336 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.