CIBC Reaffirms Neutral Rating for Celestica (NYSE:CLS)

CIBC restated their neutral rating on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report released on Friday, MarketBeat.com reports. CIBC currently has a $49.00 price target on the technology company’s stock, up from their prior price target of $41.00.

A number of other analysts have also recently weighed in on CLS. Royal Bank of Canada raised their price objective on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. BMO Capital Markets raised their price objective on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. TD Securities raised their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. StockNews.com cut Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Finally, Canaccord Genuity Group raised their price objective on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $41.50.

Celestica Trading Up 0.4 %

CLS opened at $43.43 on Friday. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The stock’s fifty day moving average is $44.57 and its two-hundred day moving average is $34.36. The company has a market capitalization of $5.18 billion, a P/E ratio of 16.21 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Analysts forecast that Celestica will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. WCM Investment Management LLC acquired a new stake in Celestica during the 4th quarter worth about $67,832,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after buying an additional 2,054,918 shares during the last quarter. Shannon River Fund Management LLC acquired a new stake in Celestica during the third quarter worth about $41,565,000. Point72 Asset Management L.P. raised its position in Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in Celestica by 411.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after acquiring an additional 1,309,257 shares during the period. 67.38% of the stock is currently 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.