Celestica (NYSE:CLS) PT Raised to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price raised by analysts at TD Cowen from $68.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. TD Cowen’s target price would indicate a potential upside of 0.89% from the company’s previous close.

CLS has been the topic of several other reports. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. TD Securities lifted their price target on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets upped their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus upped their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Celestica Price Performance

NYSE:CLS opened at $69.38 on Thursday. The company has a 50 day moving average price of $52.42 and a 200-day moving average price of $52.27. Celestica has a 1-year low of $20.87 and a 1-year high of $70.07. The firm has a market cap of $8.24 billion, a price-to-earnings 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.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping 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 business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The company’s revenue was up 24.8% compared to the same quarter last year. Equities research analysts forecast that Celestica will post 3.22 EPS for the current year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Celestica by 2,494.7% in 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 buying an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Celestica by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after purchasing an additional 64,658 shares during the period. Acadian Asset Management LLC increased its position in Celestica by 0.3% during the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock worth $118,730,000 after purchasing an additional 7,335 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 52,807 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after purchasing an additional 1,158,823 shares during the period. Institutional investors and hedge funds 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.