Celestica (NYSE:CLS) Price Target Increased to $70.00 by Analysts at Stifel Nicolaus

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

A number of other analysts also recently commented on the company. CIBC boosted their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, TD Securities boosted their price target on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.67.

Celestica Stock Up 2.1 %

Celestica stock opened at $69.38 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. Celestica has a 1-year low of $20.87 and a 1-year high of $70.07. The company has a market cap of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. The stock’s 50 day moving average price is $52.42 and its 200 day moving average price is $52.31.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly 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. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts predict that Celestica will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently added to or reduced their stakes in the business. Bay Rivers Group increased its stake in Celestica by 4.2% in the third quarter. Bay Rivers Group now owns 20,338 shares of the technology company’s stock valued at $1,040,000 after purchasing an additional 821 shares during the last quarter. FCG Investment Co acquired a new position in Celestica in the third quarter valued at $1,115,000. Financial Management Professionals Inc. acquired a new position in Celestica in the third quarter valued at $30,000. Global Trust Asset Management LLC acquired a new position in Celestica in the third quarter valued at $51,000. Finally, First National Bank of Hutchinson acquired a new position in Celestica in the third quarter valued at $265,000. 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.