Celestica (NYSE:CLS) Now Covered by UBS Group

UBS Group assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a report released on Friday morning, MarketBeat reports. The firm issued a neutral rating and a $95.00 price objective on the technology company’s stock.

Several other research analysts also recently commented on CLS. TD Securities increased their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays started coverage on Celestica in a report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. Stifel Nicolaus upped their price objective on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, TD Cowen raised their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.45.

Celestica Stock Down 2.5 %

Shares of CLS opened at $89.14 on Friday. The business’s 50 day moving average is $64.09 and its 200 day moving average is $56.94. 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 has a 12-month low of $25.83 and a 12-month high of $93.15. The company has a market capitalization of $10.37 billion, a PE ratio of 28.30 and a beta of 2.24.

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

Institutional Investors Weigh In On Celestica

Hedge funds have recently made changes to their positions in the company. Westover Capital Advisors LLC increased its holdings in Celestica by 20.9% during the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after buying an additional 3,764 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the 3rd quarter valued at $61,210,000. Sigma Planning Corp purchased a new position in shares of Celestica in the 3rd quarter valued at $420,000. Van ECK Associates Corp raised its position in shares of Celestica by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 67,266 shares of the technology company’s stock worth $3,439,000 after acquiring an additional 19,221 shares in the last quarter. Finally, Rockingstone Advisors LLC purchased a new stake in shares of Celestica during the 2nd quarter worth $2,442,000. 67.38% of the stock is currently 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.