Celestica (NYSE:CLS) Given New $70.00 Price Target at TD Cowen

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by TD Cowen from $68.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TD Securities increased their price target on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. CIBC lifted their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. BMO Capital Markets increased their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday. Finally, 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 research report on Thursday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Celestica Stock Performance

NYSE CLS opened at $69.38 on Thursday. The company has a market cap of $8.24 billion, a P/E ratio of 25.89 and a beta of 2.28. The company has a fifty day simple moving average of $52.42 and a 200 day simple moving average of $52.35. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. 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 quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue was up 24.8% on a year-over-year basis. Sell-side analysts predict that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of Celestica

A number of large investors have recently added to or reduced their stakes in CLS. Price T Rowe Associates Inc. MD grew its position in shares of Celestica by 2,494.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after acquiring an additional 8,368,293 shares during the period. Driehaus Capital Management LLC lifted its stake 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 valued at $66,770,000 after purchasing an additional 1,158,823 shares during the last quarter. Vanguard Group Inc. grew its holdings in Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after purchasing an additional 562,157 shares during the period. Principal Financial Group Inc. purchased a new stake in Celestica in the first quarter worth $22,669,000. Finally, Broad Peak Investment Holdings Ltd. bought a new stake in shares of Celestica in the first quarter valued at $10,096,000. 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.