TD Cowen Boosts Celestica (NYSE:CLS) Price Target to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lifted by TD Cowen from $68.00 to $70.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages have also issued reports on CLS. TD Securities increased their price objective on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group increased their price target 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 increased their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, CIBC increased their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Celestica Stock Performance

Shares of CLS stock opened at $69.38 on Thursday. Celestica has a 12-month low of $20.87 and a 12-month high of $70.07. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 25.89 and a beta of 2.28. The business has a 50 day simple moving average of $52.42 and a 200 day simple moving average of $52.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86.

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

Institutional Investors Weigh In On Celestica

Several large investors have recently modified their holdings of CLS. Price T Rowe Associates Inc. MD boosted its stake in shares of Celestica by 2,494.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Celestica by 19,876.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after acquiring an additional 1,158,823 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after acquiring an additional 562,157 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Celestica in the first quarter valued at $22,669,000. Finally, Broad Peak Investment Holdings Ltd. purchased a new stake in shares of Celestica in the first quarter valued at $10,096,000. 67.38% of the stock is owned by 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.