Celestica (NYSE:CLS) Price Target Raised to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by equities researchers at Stifel Nicolaus from $58.00 to $70.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 3.80% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. CIBC increased their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Canaccord Genuity Group increased their price objective on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their target price on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, TD Securities lifted their price objective on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Celestica Trading Up 17.3 %

Shares of NYSE CLS traded up $9.97 during trading on Thursday, reaching $67.44. The stock had a trading volume of 4,364,241 shares, compared to its average volume of 2,248,314. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The company has a market cap of $8.01 billion, a P/E ratio of 25.23 and a beta of 2.28. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $68.44. The business’s 50-day moving average price is $51.89 and its 200-day moving average price is $52.02.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. Celestica’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. On average, equities research analysts predict that Celestica will post 3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the business. Optimum Investment Advisors increased its stake in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. acquired a new position in shares of Celestica in the 3rd quarter valued at $34,000. Wolff Wiese Magana LLC grew its position in shares of Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 170 shares during the last quarter. Naples Money Management LLC raised its stake in Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica in the third quarter valued at $51,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.