Scotiabank upgraded shares of Celestica Inc. (NYSE:CLS) from a sector perform rating to an outperform rating in a research report sent to investors on Friday, The Fly reports. Scotiabank currently has $16.00 price target on the stock.

A hedge fund recently raised its stake in Celestica stock. Nationwide Fund Advisors boosted its stake in Celestica Inc. (NYSE:CLS) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,900 shares of the company’s stock after buying an additional 2,300 shares during the period. Nationwide Fund Advisors’ holdings in Celestica were worth $473,000 as of its most recent filing with the SEC.

Shares of Celestica (NYSE:CLS) remained flat at $9.06 during midday trading on Friday. The company had a trading volume of 226,617 shares. The stock has a 50-day moving average of $10.35 and a 200 day moving average of $11.70. The firm has a market cap of $1.27 billion and a P/E ratio of 21.57. Celestica has a 52 week low of $8.07 and a 52 week high of $13.49.

Celestica (NYSE:CLS) last announced its quarterly earnings data on Wednesday, January 27th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm earned $0.23 EPS. Celestica’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that Celestica will post $1.10 earnings per share for the current year.

CLS has been the subject of a number of other research reports. RBC Capital lifted their price objective on shares of Celestica from $13.00 to $14.00 and gave the company a sector perform rating in a report on Wednesday, October 21st. BMO Capital Markets decreased their price objective on shares of Celestica to $12.50 and set a market perform rating for the company in a report on Wednesday, October 21st. Canaccord Genuity reiterated a hold rating and set a $12.50 price objective (up previously from $12.00) on shares of Celestica in a report on Wednesday, October 21st. TheStreet lowered shares of Celestica from a buy rating to a hold rating in a report on Friday, December 4th. Finally, Zacks Investment Research lowered shares of Celestica from a hold rating to a sell rating in a report on Monday, October 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $11.71.

Celestica Inc. (NYSE:CLS) is a provider of supply chain solutions globally to original equipment manufacturers (OEMs) and service providers in the communications, consumer, diversified, servers and storage end markets. 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. The Company’s products and services serve a range of applications, including servers; networking, wireless and telecommunications equipment; storage systems; optical equipment; aerospace and defense electronics; healthcare products for diagnostic imaging; audiovisual equipment; set top boxes; printer supplies; semiconductor equipment, and a range of industrial and green technology products.

12 Month Chart for NYSE:CLS

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