Celestica, Inc. (CLS) Receives $13.68 Consensus Target Price from Analysts

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.68.

Several research firms have issued reports on CLS. Canaccord Genuity restated a “buy” rating and issued a $14.00 price objective on shares of Celestica in a research note on Friday, October 27th. Royal Bank Of Canada decreased their price objective on shares of Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a research note on Friday, October 27th. Standpoint Research upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. They noted that the move was a valuation call. BMO Capital Markets decreased their price objective on shares of Celestica from $14.50 to $13.40 and set a “market perform” rating for the company in a research note on Wednesday, July 26th. Finally, TD Securities decreased their price objective on shares of Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a research note on Friday, October 27th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Stevens Capital Management LP acquired a new stake in shares of Celestica during the second quarter worth about $140,000. Envestnet Asset Management Inc. boosted its stake in shares of Celestica by 16.4% during the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock worth $155,000 after buying an additional 1,508 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Celestica by 5.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock worth $149,000 after buying an additional 579 shares during the period. AXA boosted its stake in shares of Celestica by 8.2% during the second quarter. AXA now owns 15,800 shares of the technology company’s stock worth $215,000 after buying an additional 1,200 shares during the period. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Celestica during the second quarter worth about $217,000. Institutional investors and hedge funds own 68.93% of the company’s stock.

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Shares of Celestica (CLS) traded up $0.05 during mid-day trading on Wednesday, reaching $10.09. 47,609 shares of the company’s stock traded hands, compared to its average volume of 539,105. The company has a quick ratio of 1.15, a current ratio of 2.01 and a debt-to-equity ratio of 0.13. Celestica has a 52-week low of $9.79 and a 52-week high of $14.74. The firm has a market cap of $1,442.61, a P/E ratio of 9.56 and a beta of 0.68.

Celestica announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 26th that allows the company to buyback 1,000% of shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Celestica Company Profile

Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.

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