BMO Capital Markets Raises Celestica (NYSE:CLS) Price Target to $72.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by BMO Capital Markets from $64.00 to $72.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 3.78% from the stock’s current price.

Several other brokerages have also recently issued reports on CLS. Canaccord Genuity Group lifted their price objective on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. CIBC increased their price objective on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, September 9th. TD Securities boosted their target price on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price target on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica Price Performance

NYSE CLS opened at $69.38 on Thursday. Celestica has a 12 month low of $20.87 and a 12 month high of $70.07. The firm has a market capitalization of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. The company’s 50 day simple moving average is $52.42 and its 200 day simple moving average is $52.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86.

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. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts forecast that Celestica will post 3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Institutional investors have recently bought and sold shares of the business. Bay Rivers Group boosted its holdings in shares of Celestica by 4.2% during the third quarter. Bay Rivers Group now owns 20,338 shares of the technology company’s stock worth $1,040,000 after purchasing an additional 821 shares during the period. FCG Investment Co acquired a new stake in shares of Celestica during the 3rd quarter valued at $1,115,000. Financial Management Professionals Inc. purchased a new position in shares of Celestica during the 3rd quarter valued at $30,000. Global Trust Asset Management LLC acquired a new position in shares of Celestica in the third quarter worth $51,000. Finally, First National Bank of Hutchinson acquired a new position in shares of Celestica in the third quarter worth $265,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.