Celestica (NYSE:CLS) Price Target Raised to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $36.00 to $48.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 12.52% from the stock’s previous close.

A number of other research firms have also recently issued reports on CLS. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Royal Bank of Canada increased their target price on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday. Canaccord Genuity Group raised their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, CIBC reaffirmed a “neutral” rating and set a $49.00 price target (up from $41.00) on shares of Celestica in a research note on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.63.

Celestica Trading Down 1.4 %

Celestica stock traded down $0.59 during trading hours on Friday, reaching $42.66. 1,539,530 shares of the company’s stock traded hands, compared to its average volume of 2,266,985. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. Celestica has a fifty-two week low of $10.50 and a fifty-two week high of $51.12. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 15.78 and a beta of 2.22. The firm’s 50 day moving average is $44.49 and its 200-day moving average is $34.25.

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

Institutional Investors Weigh In On Celestica

Several hedge funds have recently added to or reduced their stakes in CLS. SG Americas Securities LLC acquired a new stake in Celestica during the 3rd quarter valued at $318,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Celestica during the third quarter worth $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Celestica by 29.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock worth $626,000 after buying an additional 5,758 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Celestica by 205.8% during the third quarter. Mackenzie Financial Corp now owns 1,152,790 shares of the technology company’s stock worth $27,334,000 after buying an additional 775,761 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Celestica by 29.5% during the third quarter. TD Asset Management Inc now owns 1,283,037 shares of the technology company’s stock worth $31,544,000 after buying an additional 292,381 shares in the last quarter. 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.