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.

A number of other equities research analysts have also issued reports on the stock. TD Cowen restated a “hold” rating and issued a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Wall Street Zen cut Celestica from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. UBS Group increased their target price on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. BMO Capital Markets set a $370.00 target price on Celestica and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group boosted their price target on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Performance

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

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

Insider Buying and Selling at Celestica

In related news, Director Laurette T. Koellner purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the acquisition, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Celestica in the 3rd quarter worth about $31,000. Golden State Wealth Management LLC lifted its position in Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. Avion Wealth bought a new stake in Celestica in the 3rd quarter valued at about $40,000. Finally, Fifth Third Bancorp boosted its stake in Celestica by 48.7% during the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after purchasing an additional 56 shares during the period. 67.38% of the stock is currently owned by institutional investors.

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.