Celestica (NYSE:CLS) Given New $70.00 Price Target at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by Stifel Nicolaus from $58.00 to $70.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada lifted their target price on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. CIBC increased their price target 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 raised their price target on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Celestica Price Performance

CLS traded up $1.46 during trading on Thursday, hitting $69.40. 1,055,182 shares of the company traded hands, compared to its average volume of 2,258,872. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $52.13 and its two-hundred day simple moving average is $52.13. The company has a market cap of $8.25 billion, a PE ratio of 25.34 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Celestica will post 3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in the stock. FCG Investment Co acquired a new stake in shares of Celestica during the third quarter worth about $1,115,000. Financial Management Professionals Inc. acquired a new stake in shares of Celestica during the third quarter worth about $30,000. Global Trust Asset Management LLC purchased a new position in shares of Celestica during the third quarter worth about $51,000. First National Bank of Hutchinson acquired a new stake in Celestica during the 3rd quarter worth approximately $265,000. Finally, Private Advisor Group LLC purchased a new position in shares of Celestica in the 3rd quarter valued at approximately $934,000. 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.