Celestica (NYSE:CLS) Raised to Buy at Canaccord Genuity

Canaccord Genuity upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a buy rating in a research report released on Thursday morning, The Fly reports.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Celestica from a buy rating to a hold rating in a research note on Monday, June 29th. Royal Bank of Canada upped their price target on Celestica from $7.50 to $8.50 and gave the company a sector perform rating in a research report on Thursday. TheStreet cut Celestica from a c- rating to a d rating in a research report on Wednesday, April 29th. TD Securities upped their price target on Celestica from $4.50 to $6.50 and gave the company a hold rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus upped their price target on Celestica from $3.50 to $6.00 and gave the company a hold rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $8.35.

Shares of NYSE:CLS opened at $8.27 on Thursday. The company has a market capitalization of $1.07 billion, a PE ratio of -413.29, a price-to-earnings-growth ratio of 1.01 and a beta of 2.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.62 and a quick ratio of 1.03. The business has a fifty day moving average price of $6.81 and a two-hundred day moving average price of $6.36. Celestica has a 1 year low of $2.63 and a 1 year high of $9.29.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.10. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.31 billion. Celestica had a positive return on equity of 5.10% and a negative net margin of 0.07%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Sell-side analysts anticipate that Celestica will post 0.61 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its holdings in Celestica by 3.2% during the 2nd quarter. CIBC Asset Management Inc now owns 75,220 shares of the technology company’s stock worth $515,000 after purchasing an additional 2,303 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Celestica by 4.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 64,128 shares of the technology company’s stock valued at $438,000 after acquiring an additional 2,609 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of Celestica by 28.3% in the 1st quarter. Verus Capital Partners LLC now owns 19,816 shares of the technology company’s stock valued at $69,000 after acquiring an additional 4,365 shares in the last quarter. US Bancorp DE raised its holdings in shares of Celestica by 169.1% in the 1st quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock valued at $27,000 after acquiring an additional 4,861 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Celestica by 43.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,776 shares of the technology company’s stock valued at $123,000 after acquiring an additional 5,396 shares in the last quarter. 62.59% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

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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Analyst Recommendations for Celestica (NYSE:CLS)

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