Wall Street Zen Downgrades Celestica (NYSE:CLS) to Hold

Celestica (NYSE:CLS) (TSE:CLS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Celestica in a research note on Monday, April 28th. BMO Capital Markets restated an “outperform” rating and set a $130.00 price target (up previously from $118.00) on shares of Celestica in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Stifel Nicolaus increased their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.82.

Celestica Trading Up 1.1%

Shares of CLS opened at $119.61 on Thursday. The stock has a market capitalization of $13.83 billion, a PE ratio of 31.98 and a beta of 1.65. The company’s fifty day moving average is $90.49 and its 200 day moving average is $97.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a fifty-two week low of $40.25 and a fifty-two week high of $144.27.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Peregrine Capital Management LLC bought a new stake in Celestica during the 4th quarter valued at about $30,000. Rothschild Investment LLC purchased a new position in shares of Celestica during the first quarter worth approximately $26,000. Pinpoint Asset Management Ltd raised its stake in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Celestica in the first quarter valued at approximately $29,000. Finally, Center for Financial Planning Inc. bought a new position in Celestica in the first quarter worth approximately $30,000. 67.38% of the stock is currently owned by institutional investors.

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.