Celestica (NYSE:CLS) Now Covered by Barclays

Equities researchers at Barclays assumed coverage on shares of Celestica (NYSE:CLS - Get Free Report) TSE: CLS in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $91.00 price target on the technology company's stock. Barclays's target price would indicate a potential upside of 20.32% from the company's current price.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of Celestica from $58.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, StockNews.com cut Celestica from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.10.

Celestica Trading Up 4.6 %

Shares of NYSE:CLS traded up $3.31 on Tuesday, hitting $75.63. The company had a trading volume of 2,874,928 shares, compared to its average volume of 2,273,309. Celestica has a 1 year low of $24.37 and a 1 year high of $76.28. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm's 50-day simple moving average is $54.47 and its two-hundred day simple moving average is $53.42. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 22.96 and a beta of 2.24.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The firm's revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently modified their holdings of the business. Optimum Investment Advisors raised its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock valued at $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the third quarter worth about $30,000. UMB Bank n.a. purchased a new position in Celestica in the 3rd quarter worth approximately $34,000. Wolff Wiese Magana LLC boosted its stake in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company's stock worth $40,000 after purchasing an additional 170 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica during the 3rd quarter valued at approximately $51,000. 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.