Zacks Research Downgrades Celestica (NYSE:CLS) to Hold

Celestica (NYSE:CLS) (TSE:CLS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Celestica from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. JPMorgan Chase & Co. increased their price target on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. Barclays boosted their price objective on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Royal Bank Of Canada increased their target price on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $336.13.

Celestica Trading Down 1.2%

NYSE CLS opened at $299.52 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.46 billion, a P/E ratio of 48.62 and a beta of 1.83. Celestica has a 52-week low of $58.05 and a 52-week high of $363.40. The firm has a 50-day moving average price of $315.90 and a 200 day moving average price of $242.66.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. Equities research analysts expect that Celestica will post 4.35 EPS for the current year.

Insider Activity

In related news, Director Laurette T. Koellner acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in Celestica by 1,103.8% in the first quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock valued at $1,930,000 after acquiring an additional 22,452 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Celestica during the second quarter worth $328,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Celestica by 406.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after purchasing an additional 42,215 shares during the period. Fortis Capital Advisors LLC acquired a new stake in Celestica during the 2nd quarter valued at $343,000. Finally, Light Street Capital Management LLC acquired a new stake in Celestica during the 2nd quarter valued at $26,422,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.