Analysts Set Celestica Inc. (NYSE:CLS) Price Target at $74.18

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.82.

A number of research analysts have recently commented on the company. BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Securities increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. TD Cowen raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Barclays initiated coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock.

Institutional Investors Weigh In On Celestica

Several large investors have recently modified their holdings of CLS. Optimum Investment Advisors lifted its holdings in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Celestica in the 3rd quarter valued at about $30,000. UMB Bank n.a. bought a new stake in shares of Celestica during the 3rd quarter valued at about $34,000. Private Trust Co. NA grew its stake in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in Celestica in the third quarter worth approximately $51,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Price Performance

Celestica stock opened at $97.53 on Wednesday. The stock has a fifty day moving average of $81.04 and a 200-day moving average of $62.84. The stock has a market capitalization of $11.35 billion, a P/E ratio of 30.96 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a 52 week low of $26.62 and a 52 week high of $100.51.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results 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 net margin of 4.08% and a return on equity of 21.58%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, sell-side analysts expect that Celestica will post 3.44 earnings per share for the current fiscal year.

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.