Celestica (NYSE:CLS) Price Target Raised to $72.00 at BMO Capital Markets

Celestica (NYSE:CLS) (TSE:CLS) had its target price upped by BMO Capital Markets from $64.00 to $72.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. CIBC boosted their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Securities lifted their price target on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, September 9th. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica Stock Up 2.5 %

CLS traded up $1.71 on Thursday, hitting $69.65. The company had a trading volume of 739,855 shares, compared to its average volume of 2,257,349. The firm has a market capitalization of $8.27 billion, a P/E ratio of 25.34 and a beta of 2.28. 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 has a fifty day simple moving average of $52.13 and a 200-day simple moving average of $52.13. Celestica has a 52-week low of $20.87 and a 52-week high of $70.07.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $2.50 billion during 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 business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities analysts expect that Celestica will post 3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Celestica by 2,494.7% in 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 buying an additional 8,368,293 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Celestica by 19,876.9% during the second 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 during the last quarter. Vanguard Group Inc. grew its stake in Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after acquiring an additional 562,157 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Celestica in the 1st quarter valued at $22,669,000. Finally, Broad Peak Investment Holdings Ltd. purchased a new stake in Celestica in the 1st quarter worth $10,096,000. 67.38% of the stock is owned by hedge funds and other 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.