Celestica (NYSE:CLS) PT Raised to $72.00 at BMO Capital Markets

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by BMO Capital Markets from $64.00 to $72.00 in a report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

A number of other research firms also recently commented on CLS. Canaccord Genuity Group increased their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, September 9th. TD Securities boosted their target price on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, CIBC lifted their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Celestica Stock Performance

NYSE:CLS opened at $69.38 on Thursday. The firm has a market capitalization of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. 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 business’s fifty day moving average price is $52.42 and its 200 day moving average price is $52.35. Celestica has a 12 month low of $20.87 and a 12 month high of $70.07.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. On average, sell-side analysts anticipate that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after purchasing an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Celestica by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after buying an additional 64,658 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Celestica by 0.3% in the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after buying an additional 7,335 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Celestica by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares during the period. Finally, Driehaus Capital Management LLC raised its position in Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after acquiring an additional 1,158,823 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

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.