Celestica (NYSE:CLS) Price Target Raised to $110.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price increased by Canaccord Genuity Group from $77.00 to $110.00 in a research note published on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on CLS. UBS Group assumed coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen raised their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays started coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target for the company. Finally, BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.82.

Celestica Stock Up 2.6 %

Shares of NYSE CLS opened at $95.45 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm’s 50-day moving average is $80.35 and its two-hundred day moving average is $62.52. Celestica has a 12-month low of $26.62 and a 12-month high of $100.51. The company has a market capitalization of $11.11 billion, a PE ratio of 30.30 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. Celestica’s quarterly revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Celestica will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors grew its stake in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Truist Financial Corp increased 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. Whittier Trust Co. of Nevada Inc. increased its position in shares of Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares during the last quarter. Pier Capital LLC raised its stake in Celestica by 0.4% during the third quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after buying an additional 335 shares in the last quarter. Finally, Creative Planning grew its position in shares of Celestica by 4.7% in the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after acquiring an additional 336 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.