Celestica, Inc. (NYSE:CLS) Stock Has Average Target Price of $448.30 According to Brokerages

Celestica, Inc. (NYSE:CLS) (TSE:CLS) has earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $448.30.

A number of analysts have commented on CLS shares. TD set a $430.00 target price on Celestica and gave the stock a “buy” rating in a report on Wednesday, September 16th. Weiss Ratings downgraded Celestica from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Scotiabank started coverage on Celestica in a research note on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 price target for the company. UBS Group raised Celestica from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $410.00 to $430.00 in a report on Monday, August 24th. Finally, FBN Securities started coverage on shares of Celestica in a report on Tuesday, September 15th. They issued an “outperform” rating and a $375.00 target price on the stock.

Celestica Stock Down 5.0%

Shares of NYSE:CLS opened at $247.03 on Friday. The stock has a fifty day simple moving average of $327.22 and a two-hundred day simple moving average of $331.72. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 25.68 and a beta of 2.01. Celestica has a 12-month low of $244.51 and a 12-month high of $474.02. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, July 27th. The technology company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%. The business had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. On average, research analysts anticipate that Celestica will post 10.71 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In related news, CEO Robert Mionis sold 23,396 shares of Celestica stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandeep Chawla sold 16,117 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $369.32, for a total value of $5,952,330.44. Following the completion of the sale, the chief financial officer owned 65,444 shares of the company’s stock, valued at $24,169,778.08. This represents a 19.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 243,067 shares of company stock worth $89,200,967. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

A number of large investors have recently made changes to their positions in CLS. WD Rutherford LLC raised its stake in Celestica by 9.8% in the third quarter. WD Rutherford LLC now owns 3,886 shares of the technology company’s stock valued at $1,405,000 after buying an additional 346 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Celestica by 143.5% during the third quarter. Oppenheimer & Co. Inc. now owns 5,807 shares of the technology company’s stock worth $2,099,000 after acquiring an additional 3,422 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Celestica by 8.4% during the third quarter. Verdence Capital Advisors LLC now owns 631 shares of the technology company’s stock worth $228,000 after acquiring an additional 49 shares during the last quarter. Maxi Investments CY Ltd acquired a new position in shares of Celestica during the third quarter valued at about $691,000. Finally, Groesbeck Investment Management Corp NJ increased its holdings in shares of Celestica by 7.6% during the third quarter. Groesbeck Investment Management Corp NJ now owns 710 shares of the technology company’s stock valued at $257,000 after acquiring an additional 50 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Company Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.