Analysts Set Celestica, Inc. (CLS) Price Target at $13.89
Celestica, Inc. (NYSE:CLS) (TSE:CLS) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.89.
Several research analysts have recently weighed in on the stock. Bank of America Corporation assumed coverage on shares of Celestica in a report on Thursday, June 15th. They issued a “neutral” rating and a $15.50 price target on the stock. Macquarie cut shares of Celestica from an “outperform” rating to a “neutral” rating in a report on Thursday, June 22nd. BidaskClub cut shares of Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Scotiabank set a $15.00 price target on shares of Celestica and gave the stock a “sector perform” rating in a report on Wednesday, July 26th. Finally, BMO Capital Markets decreased their price target on shares of Celestica from $14.50 to $13.40 and set a “market perform” rating on the stock in a report on Wednesday, July 26th.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stevens Capital Management LP bought a new position in Celestica in the second quarter valued at $140,000. Dynamic Technology Lab Private Ltd increased its stake in Celestica by 5.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock valued at $149,000 after acquiring an additional 579 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Celestica by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock valued at $155,000 after acquiring an additional 1,508 shares during the last quarter. AXA bought a new position in Celestica in the first quarter valued at $212,000. Finally, State of Tennessee Treasury Department bought a new position in Celestica in the second quarter valued at $217,000. 59.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Celestica (NYSE CLS) traded up 0.56% during trading on Tuesday, hitting $12.47. The stock had a trading volume of 373,221 shares. Celestica has a 1-year low of $10.16 and a 1-year high of $14.74. The company has a market cap of $1.79 billion, a PE ratio of 13.55 and a beta of 0.67. The firm’s 50 day moving average is $11.70 and its 200 day moving average is $13.34.
Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.08). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. Celestica had a return on equity of 13.64% and a net margin of 2.12%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. Equities research analysts anticipate that Celestica will post $1.27 EPS for the current fiscal year.
Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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