Celestica (NYSE:CLS) PT Raised to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price boosted by TD Securities from $68.00 to $70.00 in a report issued on Thursday, BayStreet.CA reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also recently commented on the company. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica Stock Up 2.1 %

NYSE:CLS opened at $69.38 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The firm has a market cap of $8.24 billion, a P/E ratio of 25.89 and a beta of 2.28. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $70.07. The firm has a 50-day simple moving average of $52.42 and a two-hundred day simple moving average of $52.35.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. Analysts predict that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently modified their holdings of the business. Optimum Investment Advisors raised its holdings in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Celestica in the third quarter worth about $30,000. UMB Bank n.a. purchased a new position in shares of Celestica during the 3rd quarter valued at about $34,000. Wolff Wiese Magana LLC grew 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 valued at $40,000 after acquiring an additional 170 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica in the 3rd quarter worth approximately $51,000. Institutional investors 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.