Canaccord Genuity Group Issues Positive Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by investment analysts at Canaccord Genuity Group from $77.00 to $110.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 15.24% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. TD Cowen increased their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays initiated coverage on shares of Celestica in a report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets raised 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. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.82.

Celestica Stock Up 2.6 %

NYSE CLS opened at $95.45 on Friday. The stock’s 50-day moving average price is $80.35 and its 200-day moving average price is $62.48. The company has a market capitalization of $11.11 billion, a P/E ratio of 30.30 and a beta of 2.27. 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.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, equities research analysts predict that Celestica will post 3.44 earnings per share for the current year.

Institutional Trading of Celestica

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Celestica during the second quarter worth approximately $218,000. Raymond James & Associates increased its position in shares of Celestica by 79.7% during the 2nd quarter. Raymond James & Associates now owns 108,930 shares of the technology company’s stock valued at $6,245,000 after purchasing an additional 48,323 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in Celestica by 12.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 15,589 shares of the technology company’s stock valued at $893,000 after buying an additional 1,689 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Celestica in the second quarter worth $5,567,000. Finally, Whittier Trust Co. bought a new position in Celestica during the second quarter valued at $416,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.