Celestica, Inc. (NYSE:CLS) Receives $325.13 Average Price Target from Analysts

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $336.00.

Several brokerages have commented on CLS. TD Cowen reissued a “hold” rating and set a $238.00 price target on shares of Celestica in a research report on Friday, October 3rd. New Street Research set a $400.00 target price on Celestica in a report on Wednesday, October 29th. CIBC increased their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. UBS Group boosted their price target on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $212.00 to $375.00 in a research note on Monday.

Celestica Trading Up 0.6%

NYSE CLS opened at $333.80 on Friday. Celestica has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The stock’s 50 day moving average price is $274.88 and its two-hundred day moving average price is $193.95. The stock has a market capitalization of $38.39 billion, a price-to-earnings ratio of 54.19 and a beta of 1.85.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. As a group, analysts anticipate that Celestica will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Laurette T. Koellner purchased 6,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the purchase, the director directly owned 6,000 shares in the company, valued at $2,050,020. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently modified their holdings of CLS. Norges Bank bought a new position in Celestica during the second quarter worth about $236,069,000. Voya Investment Management LLC raised its stake in Celestica by 362.8% in the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after buying an additional 1,453,473 shares during the period. Alkeon Capital Management LLC acquired a new stake in shares of Celestica in the first quarter valued at approximately $96,936,000. SRS Investment Management LLC bought a new position in shares of Celestica during the 2nd quarter worth approximately $135,289,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Celestica by 405.5% during the 1st quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after acquiring an additional 587,145 shares during the period. 67.38% of the stock is owned by institutional investors.

Celestica Company Profile

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.