Celestica (NYSE:CLS) Given New $53.00 Price Target at Canaccord Genuity Group

Celestica (NYSE:CLS) (TSE:CLS) had its price objective upped by investment analysts at Canaccord Genuity Group from $48.00 to $53.00 in a report released on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 22.83% from the stock’s current price.

Several other brokerages have also weighed in on CLS. Stifel Nicolaus increased their target price on Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday. CIBC restated a “neutral” rating and issued a $49.00 price objective (up from $41.00) on shares of Celestica in a report on Friday. Royal Bank of Canada boosted their target price on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. TD Securities raised their price target on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Celestica Price Performance

CLS stock traded down $0.10 during trading on Friday, reaching $43.15. 2,070,405 shares of the company were exchanged, compared to its average volume of 2,273,499. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The company has a market cap of $5.15 billion, a P/E ratio of 16.03 and a beta of 2.22. The stock’s 50 day moving average price is $44.49 and its 200 day moving average price is $34.25.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. As a group, analysts predict that Celestica will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC bought a new position in shares of Celestica in the fourth quarter valued at approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Celestica by 50.9% during the 3rd 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 acquired a new position in shares of Celestica during the 3rd quarter valued at $41,565,000. Point72 Asset Management L.P. raised its stake 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 buying an additional 1,428,071 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Celestica by 411.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after buying an additional 1,309,257 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.