Celestica (NYSE:CLS) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

CLS has been the topic of a number of other research reports. Barclays decreased their target price on shares of Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. JPMorgan Chase & Co. increased their price target on shares of Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Finally, Stifel Nicolaus increased their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.82.

Celestica Stock Performance

Shares of NYSE:CLS opened at $118.29 on Thursday. The company’s 50 day moving average price is $89.85 and its two-hundred day moving average price is $96.96. Celestica has a 12-month low of $40.25 and a 12-month high of $144.27. The firm has a market cap of $13.67 billion, a PE ratio of 31.63 and a beta of 1.65. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts predict that Celestica will post 4.35 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC bought a new position in Celestica in the 4th quarter valued at approximately $385,000. Raymond James Financial Inc. bought a new position in Celestica in the 4th quarter valued at approximately $47,685,000. Schechter Investment Advisors LLC bought a new position in Celestica in the 4th quarter valued at approximately $294,000. American Century Companies Inc. lifted its stake in Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock valued at $20,217,000 after purchasing an additional 30,851 shares during the last quarter. Finally, Fruth Investment Management bought a new position in Celestica in the 4th quarter valued at approximately $286,000. Institutional investors 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.