Celestica (NYSE:CLS) (TSE:CLS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “

Several other brokerages have also commented on CLS. ValuEngine lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 1st. TheStreet cut shares of Celestica from a “c-” rating to a “d” rating in a research note on Wednesday, April 29th. TD Securities raised their price target on shares of Celestica from $4.50 to $6.50 and gave the company a “hold” rating in a research note on Thursday, April 30th. Royal Bank of Canada lowered their price objective on Celestica from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Finally, Pi Financial reaffirmed a “hold” rating and issued a $6.50 price target on shares of Celestica in a research note on Monday, April 27th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Celestica presently has a consensus rating of “Hold” and a consensus price target of $6.63.

Shares of Celestica stock opened at $6.69 on Monday. The firm has a market cap of $881.41 million, a PE ratio of -39.35, a P/E/G ratio of 0.85 and a beta of 2.18. Celestica has a twelve month low of $2.63 and a twelve month high of $9.29. The company has a quick ratio of 1.03, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $6.48 and a 200 day moving average price of $6.54.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.25 billion. Celestica had a positive return on equity of 2.31% and a negative net margin of 0.40%. Celestica’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, sell-side analysts expect that Celestica will post 0.56 EPS for the current year.

A number of large investors have recently bought and sold shares of CLS. Pzena Investment Management LLC grew its stake in shares of Celestica by 24.0% in the 1st quarter. Pzena Investment Management LLC now owns 6,581,077 shares of the technology company’s stock valued at $23,034,000 after buying an additional 1,275,432 shares during the period. Morgan Stanley lifted its holdings in Celestica by 64.0% in the first quarter. Morgan Stanley now owns 3,230,116 shares of the technology company’s stock valued at $11,306,000 after acquiring an additional 1,260,575 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Celestica by 325.7% in the first quarter. Hillsdale Investment Management Inc. now owns 2,920,200 shares of the technology company’s stock worth $10,256,000 after acquiring an additional 2,234,300 shares during the period. Towle & Co. increased its stake in Celestica by 61.7% during the fourth quarter. Towle & Co. now owns 2,569,812 shares of the technology company’s stock worth $21,252,000 after acquiring an additional 980,081 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Celestica by 40.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,445,764 shares of the technology company’s stock valued at $8,591,000 after purchasing an additional 701,243 shares during the period. Institutional investors own 62.56% of the company’s stock.

About Celestica

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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