Celestica (NYSE:CLS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a buy rating to a hold rating in a report published on Saturday morning.

CLS has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group increased their target price on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. TD Securities raised their target price on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Barclays upped their price target on shares of Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $385.00 price objective (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $336.13.

Celestica Stock Up 4.9%

Shares of CLS stock opened at $340.95 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. Celestica has a one year low of $58.05 and a one year high of $363.40. The company’s fifty day moving average price is $299.42 and its 200-day moving average price is $221.68. The company has a market capitalization of $39.21 billion, a price-to-earnings ratio of 55.35 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. Celestica’s quarterly revenue was up 27.8% compared to the same quarter last year. Sell-side analysts expect that Celestica will post 4.35 EPS for the current fiscal year.

Insider Activity

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its holdings in shares of Celestica by 31.9% during the first quarter. XTX Topco Ltd now owns 5,180 shares of the technology company’s stock valued at $408,000 after acquiring an additional 1,254 shares in the last quarter. US Bancorp DE increased its stake in Celestica by 116.2% during the 1st quarter. US Bancorp DE now owns 5,715 shares of the technology company’s stock valued at $450,000 after purchasing an additional 3,072 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Celestica by 75.1% in the first quarter. Atria Wealth Solutions Inc. now owns 4,075 shares of the technology company’s stock worth $321,000 after buying an additional 1,748 shares during the last quarter. Wealthspire Advisors LLC acquired a new stake in shares of Celestica during the first quarter worth $239,000. Finally, Vanguard Group Inc. grew its holdings in shares of Celestica by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company’s stock valued at $356,135,000 after buying an additional 35,690 shares during the last quarter. 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.