Celestica (NYSE:CLS) PT Raised to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective upped by BMO Capital Markets from $37.00 to $48.00 in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.71% from the stock’s previous close.

CLS has been the topic of a number of other research reports. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Royal Bank of Canada upped their price target on Celestica from $33.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. TD Securities lifted their price objective on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Canaccord Genuity Group boosted their target price on Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, CIBC raised their price target on Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Celestica has a consensus rating of “Moderate Buy” and a consensus target price of $36.38.

Celestica Stock Performance

Shares of CLS stock opened at $43.75 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $44.20 and a 200-day simple moving average of $33.99. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 21.65 and a beta of 2.22. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, equities analysts forecast that Celestica will post 2.59 EPS for the current year.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently made changes to their positions in CLS. Byrne Asset Management LLC raised its stake in Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after purchasing an additional 550 shares during the last quarter. Clearstead Advisors LLC acquired a new position in shares of Celestica in the third quarter valued at approximately $32,000. Principal Securities Inc. purchased a new position in shares of Celestica during the fourth quarter valued at approximately $42,000. Blue Trust Inc. boosted its position in Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,384 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in Celestica during the third quarter worth approximately $68,000. 67.38% of the stock is currently owned by hedge funds and other 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.