Celestica Inc. (NYSE:CLS) Receives $14.50 Consensus Target Price from Analysts

Celestica Inc. (NYSE:CLS – Get Rating) (TSE:CLS) has been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $14.50.

CLS has been the topic of a number of analyst reports. TD Securities cut their price objective on shares of Celestica from $14.00 to $13.50 and set a “hold” rating on the stock in a research report on Friday, April 28th. StockNews.com upgraded shares of Celestica from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 19th. BMO Capital Markets boosted their price objective on shares of Celestica from $14.00 to $15.50 and gave the company an “outperform” rating in a research report on Friday, January 27th. Citigroup boosted their price objective on shares of Celestica from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price objective on shares of Celestica in a research report on Thursday, April 13th.

Celestica Trading Up 3.8 %

Shares of CLS opened at $11.63 on Tuesday. The company’s fifty day moving average is $11.77 and its 200 day moving average is $11.98. Celestica has a fifty-two week low of $8.21 and a fifty-two week high of $14.28. The stock has a market capitalization of $1.40 billion, a PE ratio of 9.61 and a beta of 2.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.61 and a current ratio of 1.43.

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) last announced its quarterly earnings results on Monday, March 13th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Celestica had a net margin of 1.97% and a return on equity of 15.14%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Sell-side analysts expect that Celestica will post 1.88 earnings per share for the current fiscal year.

Institutional Trading of Celestica

A number of large investors have recently made changes to their positions in the stock. NorthCrest Asset Manangement LLC lifted its stake in Celestica by 7.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,600 shares of the technology company’s stock worth $165,000 after acquiring an additional 1,000 shares during the period. Toronto Dominion Bank lifted its position in shares of Celestica by 2.7% during the third quarter. Toronto Dominion Bank now owns 43,096 shares of the technology company’s stock valued at $362,000 after buying an additional 1,148 shares during the last quarter. US Bancorp DE lifted its position in shares of Celestica by 12.4% during the third quarter. US Bancorp DE now owns 11,743 shares of the technology company’s stock valued at $99,000 after buying an additional 1,299 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Celestica by 0.4% during the fourth quarter. Renaissance Technologies LLC now owns 382,388 shares of the technology company’s stock valued at $4,310,000 after buying an additional 1,500 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Celestica by 13.1% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 19,434 shares of the technology company’s stock valued at $251,000 after buying an additional 2,247 shares during the last quarter. 56.26% of the stock is owned by hedge funds and other institutional investors.

About Celestica

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Celestica, Inc engages in the provision of supply chain solutions globally to equipment manufacturers and service providers. It operates through the following segments: Advanced Technology Solutions (ATS), and Connectivity and Cloud Solutions (CCS). The Advanced Technology Solutions (ATS) segment includes aerospace and defense, industrial, smart energy, health tech, and capital equipment businesses.