Barclays Begins Coverage on Celestica (NYSE:CLS)

Stock analysts at Barclays initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report issued on Tuesday, Benzinga reports. The brokerage set an “overweight” rating and a $91.00 price target on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 25.83% from the company’s current price.

Several other analysts also recently weighed in on the company. TD Securities lifted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. CIBC lifted their price target on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada raised their price objective on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $69.10.

Celestica Price Performance

CLS stock opened at $72.32 on Tuesday. Celestica has a 52 week low of $24.37 and a 52 week high of $73.18. The firm has a market capitalization of $8.58 billion, a P/E ratio of 22.96 and a beta of 2.24. The company has a fifty day simple moving average of $54.47 and a two-hundred day simple moving average of $53.42. 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 issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CLS. Mirae Asset Global Investments Co. Ltd. bought a new stake in Celestica during the first quarter valued at about $1,231,000. Janney Montgomery Scott LLC grew its position in shares of Celestica by 6.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 101,272 shares of the technology company’s stock worth $4,551,000 after buying an additional 6,523 shares during the last quarter. Sciencast Management LP raised its stake in shares of Celestica by 21.5% during the 1st quarter. Sciencast Management LP now owns 21,892 shares of the technology company’s stock worth $984,000 after acquiring an additional 3,881 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Celestica during the first quarter valued at approximately $226,000. Finally, PFG Advisors acquired a new stake in Celestica in the first quarter valued at approximately $436,000. 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.