BMO Capital Markets Raises Celestica (NYSE:CLS) Price Target to $63.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by BMO Capital Markets from $53.00 to $63.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have an outperform rating on the technology company’s stock.

CLS has been the subject of a number of other reports. Canaccord Genuity Group upped their price target on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a research report on Friday, April 26th. Fox Advisors started coverage on Celestica in a research note on Wednesday, May 15th. They set an overweight rating and a $60.00 target price for the company. StockNews.com cut shares of Celestica from a buy rating to a hold rating in a research report on Friday, May 24th. CIBC boosted their price target on shares of Celestica from $49.00 to $58.00 and gave the company a neutral rating in a report on Monday, May 27th. Finally, Stifel Nicolaus boosted their price target on Celestica from $48.00 to $51.00 and gave the stock a hold rating in a research report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Celestica presently has a consensus rating of Moderate Buy and an average price target of $47.22.

Celestica Stock Performance

NYSE:CLS opened at $59.09 on Monday. The firm’s fifty day simple moving average is $50.45 and its 200-day simple moving average is $41.49. Celestica has a fifty-two week low of $13.51 and a fifty-two week high of $61.06. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market cap of $7.02 billion, a PE ratio of 22.05 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Analysts expect that Celestica will post 2.87 earnings per share for the current fiscal year.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after buying an additional 8,368,293 shares during the period. WCM Investment Management LLC acquired a new stake in Celestica during the fourth quarter valued at approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Celestica by 50.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after purchasing an additional 2,054,918 shares in the last quarter. Shannon River Fund Management LLC bought a new position in shares of Celestica during the third quarter valued at $41,565,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Celestica by 72.9% in the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after purchasing an additional 1,428,071 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.