Celestica (NYSE:CLS) Now Covered by Barclays

Barclays assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report released on Tuesday, Marketbeat reports. The brokerage issued an overweight rating and a $91.00 price target on the technology company’s stock.

Several other equities research analysts have also weighed in on CLS. BMO Capital Markets increased 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. TD Securities upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Canaccord Genuity Group upped their price target on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.10.

Celestica Trading Up 4.6 %

Shares of Celestica stock opened at $75.63 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a 1 year low of $24.37 and a 1 year high of $76.28. The company has a market capitalization of $8.97 billion, a P/E ratio of 24.01 and a beta of 2.24. The business has a 50 day moving average price of $54.97 and a 200 day moving average price of $53.67.

Celestica (NYSE:CLS) (TSE:CLS) last announced 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 company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $0.65 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Sell-side analysts anticipate that Celestica will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLS. Price T Rowe Associates Inc. MD raised its stake in shares of Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after buying an additional 8,368,293 shares during the period. Driehaus Capital Management LLC lifted its position in Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Celestica in the second quarter worth $10,491,000. Twin Tree Management LP purchased a new position in Celestica during the first quarter valued at $7,504,000. Finally, Shellback Capital LP lifted its position in Celestica by 136.5% during the second quarter. Shellback Capital LP now owns 260,153 shares of the technology company’s stock valued at $14,915,000 after buying an additional 150,153 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

About Celestica

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.