Celestica (NYSE:CLS) PT Raised to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by analysts at TD Securities from $68.00 to $70.00 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the technology company’s stock. TD Securities’ price objective would suggest a potential upside of 0.89% from the stock’s current price.

A number of other brokerages have also issued reports on CLS. Canaccord Genuity Group raised their target price on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus upped their target price on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Celestica Price Performance

Shares of NYSE:CLS opened at $69.38 on Thursday. Celestica has a one year low of $20.87 and a one year high of $70.07. The stock has a market cap of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. The business’s fifty day moving average price is $52.42 and its two-hundred day moving average price is $52.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, analysts forecast that Celestica will post 3.22 EPS for the current fiscal year.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently bought and sold shares of the business. Westover Capital Advisors LLC lifted its position in Celestica by 20.9% during the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after buying an additional 3,764 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of Celestica during the 1st quarter valued at about $3,248,000. BNP Paribas Financial Markets lifted its position in Celestica by 62.9% during the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock worth $24,548,000 after acquiring an additional 210,943 shares in the last quarter. Rockingstone Advisors LLC purchased a new position in Celestica in the 2nd quarter worth approximately $2,442,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Celestica in the first quarter valued at approximately $1,231,000. Institutional investors and hedge funds 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.