The RBC Capital Markets Reiterates “Hold” Rating for Celestica, Inc. (CLS)

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RBC Capital Markets reissued their hold rating on shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in a research report sent to investors on Thursday. RBC Capital Markets currently has a $13.00 price target on the stock.

A number of other brokerages have also commented on CLS. Canaccord Genuity set a $13.00 price objective on Celestica and gave the company a buy rating in a report on Friday, October 21st. B. Riley reaffirmed a neutral rating and issued a $11.00 price objective on shares of Celestica in a report on Tuesday, October 18th. Standpoint Research lowered Celestica from a buy rating to a hold rating in a report on Friday, November 18th. BMO Capital Markets reaffirmed a hold rating on shares of Celestica in a report on Friday, October 21st. Finally, Zacks Investment Research lowered Celestica from a buy rating to a hold rating in a report on Wednesday, September 21st. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Celestica currently has a consensus rating of Hold and an average target price of $13.04.

Shares of Celestica (NYSE:CLS) opened at 12.17 on Thursday. The stock has a 50 day moving average price of $12.09 and a 200-day moving average price of $11.21. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.89 and a beta of 1.07. Celestica has a 52 week low of $8.07 and a 52 week high of $12.59.

Celestica (NYSE:CLS) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. Celestica had a return on equity of 12.63% and a net margin of 2.16%. The firm had revenue of $1.55 billion for the quarter. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that Celestica will post $1.29 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in CLS. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Celestica by 18.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,041,944 shares of the company’s stock valued at $119,220,000 after buying an additional 1,757,431 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Celestica by 0.6% in the third quarter. Donald Smith & CO. Inc. now owns 5,347,479 shares of the company’s stock valued at $57,913,000 after buying an additional 32,645 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Celestica by 12.0% in the third quarter. Mackenzie Financial Corp now owns 4,918,034 shares of the company’s stock valued at $53,262,000 after buying an additional 525,466 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Celestica by 17.7% in the third quarter. TD Asset Management Inc. now owns 3,307,640 shares of the company’s stock valued at $35,713,000 after buying an additional 496,983 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Celestica during the third quarter valued at $28,294,000. Institutional investors and hedge funds own 71.17% of the company’s stock.

About Celestica

Celestica Inc is a provider of supply chain solutions in the communications, consumer, diversified, servers and storage end markets. 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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