Celestica (NYSE:CLS) Price Target Increased to $68.00 by Analysts at TD Securities

Celestica (NYSE:CLS) (TSE:CLS) had its target price raised by investment analysts at TD Securities from $61.00 to $68.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. TD Securities’ price objective points to a potential upside of 17.87% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group upped their price objective on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. BMO Capital Markets upped their price objective on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.88.

Celestica Price Performance

Shares of NYSE CLS traded up $1.98 during trading on Wednesday, hitting $57.69. 938,608 shares of the company were exchanged, compared to its average volume of 2,208,702. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The firm’s fifty day moving average price is $49.55 and its 200 day moving average price is $51.10. Celestica has a 1 year low of $20.87 and a 1 year high of $63.49. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 21.53 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. On average, sell-side analysts expect that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wolff Wiese Magana LLC boosted its stake in shares of Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the last quarter. Creative Planning boosted its holdings in shares of Celestica by 4.7% during the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after buying an additional 336 shares during the period. Bay Rivers Group lifted its position in Celestica by 1.9% during the 2nd quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock worth $1,119,000 after acquiring an additional 370 shares during the last quarter. Finally, Naples Money Management LLC lifted its position in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares during 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.