Celestica (CLS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Celestica (NYSE:CLS) (TSE:CLS) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products. “

A number of other equities research analysts also recently weighed in on the company. Macquarie raised Celestica from a neutral rating to an outperform rating in a research report on Wednesday, October 10th. Beacon Securities raised Celestica from a hold rating to a buy rating in a research report on Wednesday, October 10th. TD Securities lifted their target price on Celestica from $11.00 to $12.00 and gave the stock a hold rating in a research report on Wednesday, August 1st. BMO Capital Markets set a $12.00 target price on Celestica and gave the stock a hold rating in a research report on Wednesday, October 24th. Finally, TheStreet downgraded Celestica from a b- rating to a c+ rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Celestica currently has a consensus rating of Hold and an average price target of $12.40.

Celestica stock opened at $10.15 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.79. The stock has a market capitalization of $1.35 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 5.25 and a beta of 0.57. Celestica has a 52 week low of $9.10 and a 52 week high of $12.59.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.14. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Celestica had a return on equity of 4.03% and a net margin of 0.82%. Analysts anticipate that Celestica will post 0.39 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in CLS. Northern Trust Corp acquired a new stake in Celestica during the first quarter valued at approximately $104,000. Fox Run Management L.L.C. acquired a new stake in Celestica during the second quarter valued at approximately $140,000. Dynamic Technology Lab Private Ltd acquired a new stake in Celestica during the first quarter valued at approximately $138,000. Renaissance Technologies LLC acquired a new stake in Celestica during the second quarter valued at approximately $298,000. Finally, CLARET ASSET MANAGEMENT Corp boosted its holdings in Celestica by 21.3% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 35,751 shares of the technology company’s stock valued at $387,000 after purchasing an additional 6,286 shares in the last quarter. 65.45% of the stock is currently owned by institutional investors and hedge funds.

About Celestica

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. The company offers a range of services, including design and development, engineering, 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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