Celestica Inc. (NYSE:CLS) Receives $74.18 Consensus Price Target from Brokerages

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $77.82.

A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays started coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. 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 research note on Thursday, October 24th. Stifel Nicolaus boosted their price target on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday.

Institutional Investors Weigh In On Celestica

Several large investors have recently bought and sold shares of CLS. Optimum Investment Advisors lifted its position in Celestica by 66.7% during 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. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the 3rd quarter valued at about $30,000. UMB Bank n.a. bought a new position in shares of Celestica in the 3rd quarter valued at about $34,000. Private Trust Co. NA grew its position in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after acquiring an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in Celestica during the third quarter worth approximately $51,000. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of CLS opened at $95.45 on Wednesday. The business has a 50-day simple moving average of $80.35 and a two-hundred day simple moving average of $62.52. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a 52 week low of $26.62 and a 52 week high of $100.51. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 30.30 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company 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 firm posted $0.65 EPS. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, analysts expect that Celestica will post 3.44 EPS for the current year.

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.