Celestica (NYSE:CLS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by Canaccord Genuity Group from $126.00 to $240.00 in a research report released on Wednesday, MarketBeat.com reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets restated an “outperform” rating and set a $130.00 price objective (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Argus lowered their price target on Celestica from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen downgraded Celestica from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. BNP Paribas upgraded shares of Celestica to a “strong-buy” rating in a report on Wednesday, June 11th. Finally, CIBC dropped their price target on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.92.

Celestica Trading Up 0.2%

NYSE CLS opened at $202.37 on Wednesday. Celestica has a 52 week low of $40.25 and a 52 week high of $214.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.44. The stock’s 50 day moving average price is $144.61 and its two-hundred day moving average price is $115.31. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of 43.80 and a beta of 1.81.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. acquired a new stake in Celestica during the second quarter worth approximately $37,000. Rothschild Investment LLC acquired a new stake in Celestica during the 1st quarter worth approximately $26,000. Pinpoint Asset Management Ltd boosted its stake in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after purchasing an additional 182 shares during the period. Wolff Wiese Magana LLC boosted its stake in Celestica by 45.6% in the 2nd quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock valued at $57,000 after purchasing an additional 114 shares during the period. Finally, ORG Partners LLC acquired a new position in Celestica in the 1st quarter valued at $29,000. Institutional investors own 67.38% of the company’s stock.

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.