Celestica (NYSE:CLS) Upgraded to Buy at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Monday, Briefing.com reports. The firm currently has a $58.00 price objective on the technology company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 41.36% from the stock’s current price.

Several other equities analysts have also commented on CLS. BMO Capital Markets raised their price objective on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. CIBC upped their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Canaccord Genuity Group boosted their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Celestica Price Performance

CLS stock opened at $41.03 on Monday. The firm has a 50-day moving average of $53.03 and a 200 day moving average of $50.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The company has a market cap of $4.87 billion, a P/E ratio of 15.31 and a beta of 2.29. Celestica has a 1 year low of $20.87 and a 1 year high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 EPS. On average, sell-side analysts forecast that Celestica will post 3.22 EPS for the current year.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Principal Securities Inc. bought a new stake in Celestica during the fourth quarter valued at about $42,000. BNP Paribas Financial Markets boosted its holdings in shares of Celestica by 67.1% in the 4th quarter. BNP Paribas Financial Markets now owns 335,287 shares of the technology company’s stock valued at $9,817,000 after buying an additional 134,581 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Celestica by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock worth $38,491,000 after buying an additional 147,417 shares during the last quarter. D Orazio & Associates Inc. raised its stake in shares of Celestica by 17.0% during the 4th quarter. D Orazio & Associates Inc. now owns 11,453 shares of the technology company’s stock worth $335,000 after acquiring an additional 1,662 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Celestica by 27.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 94,749 shares of the technology company’s stock worth $2,774,000 after acquiring an additional 20,642 shares in the last quarter. 67.38% of the stock is owned by 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.