Celestica Inc. (NYSE:CLS) Receives $74.18 Average Price Target from Brokerages

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $77.82.

Several brokerages have commented on CLS. Barclays assumed coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. BMO Capital Markets upped their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada upped their target price on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th.

Celestica Price Performance

Shares of NYSE CLS opened at $95.45 on Wednesday. The stock has a market cap of $11.11 billion, a P/E ratio of 30.30 and a beta of 2.27. The firm’s 50-day simple moving average is $80.35 and its 200 day simple moving average is $62.41. Celestica has a fifty-two week low of $26.62 and a fifty-two week high of $100.51. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLS. Optimum Investment Advisors increased its position in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Celestica in the third quarter worth about $30,000. UMB Bank n.a. acquired a new position in shares of Celestica during the 3rd quarter worth about $34,000. Private Trust Co. NA boosted its stake in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in Celestica in the 3rd quarter valued at approximately $51,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.