Celestica (NYSE:CLS) PT Raised to $53.00 at Canaccord Genuity Group

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by equities researchers at Canaccord Genuity Group from $48.00 to $53.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 21.95% from the stock’s current price.

Several other brokerages also recently issued reports on CLS. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on Celestica from $38.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. TD Securities increased their target price on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their target price on Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Celestica Stock Up 0.5 %

CLS opened at $43.46 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. Celestica has a one year low of $10.50 and a one year high of $51.12. The business’s fifty day moving average is $44.57 and its two-hundred day moving average is $34.36. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 16.22 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Analysts anticipate that Celestica will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trexquant Investment LP increased its stake in Celestica by 0.6% during the third quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock worth $2,170,000 after acquiring an additional 502 shares during the last quarter. Byrne Asset Management LLC increased its stake in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after acquiring an additional 550 shares during the last quarter. Guardian Capital Advisors LP grew its stake in shares of Celestica by 8.5% in the fourth quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after buying an additional 685 shares in the last quarter. Clearstead Advisors LLC acquired a new stake in shares of Celestica in the third quarter valued at about $32,000. Finally, Blue Trust Inc. grew its stake in shares of Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after buying an additional 1,384 shares in the last quarter. 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.