Celestica’s (CLS) Neutral Rating Reaffirmed at CIBC

CIBC reiterated their neutral rating on shares of Celestica (NYSE:CLS) (TSE:CLS) in a report issued on Friday morning, MarketBeat reports. The brokerage currently has a $49.00 price target on the technology company’s stock, up from their previous price target of $41.00.

CLS has been the topic of several other research reports. StockNews.com lowered Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. TD Securities increased their price target on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. BMO Capital Markets increased their price target on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Royal Bank of Canada increased their price target on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Finally, Canaccord Genuity Group increased their price target on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $41.50.

Celestica Trading Up 0.4 %

Shares of CLS stock opened at $43.43 on Friday. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 16.21 and a beta of 2.22. The stock has a 50-day moving average of $44.57 and a 200-day moving average of $34.36. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a return on equity of 18.21% and a net margin of 3.86%. On average, equities research analysts forecast that Celestica will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Celestica by 50.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after acquiring an additional 2,054,918 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after acquiring an additional 562,157 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Celestica by 4.6% during the first quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock valued at $107,782,000 after acquiring an additional 105,943 shares during the last quarter. Finally, Shannon River Fund Management LLC purchased a new stake in Celestica in the third quarter worth $41,565,000. Institutional investors own 67.38% of the company’s stock.

About Celestica

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.