Celestica (NYSE:CLS) PT Raised to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by equities research analysts at Stifel Nicolaus from $58.00 to $70.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 0.89% from the company’s previous close.

CLS has been the topic of several other research reports. BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Securities raised their target price on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upped their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC raised their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.67.

Celestica Stock Performance

Shares of CLS opened at $69.38 on Thursday. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The stock’s fifty day moving average price is $52.42 and its two-hundred day moving average price is $52.27. The firm has a market cap of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, equities research analysts forecast that Celestica will post 3.22 EPS for the current year.

Hedge Funds Weigh In On Celestica

A number of large investors have recently modified their holdings of the company. Westover Capital Advisors LLC grew its position in Celestica by 20.9% during the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 3,764 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of Celestica during the 1st quarter valued at $3,248,000. BNP Paribas Financial Markets raised its position in Celestica by 62.9% in the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock worth $24,548,000 after purchasing an additional 210,943 shares during the period. Rockingstone Advisors LLC purchased a new stake in Celestica during the second quarter valued at about $2,442,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Celestica during the first quarter valued at about $1,231,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.