Celestica (NYSE:CLS) Price Target Raised to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price increased by BMO Capital Markets from $37.00 to $48.00 in a research report released on Monday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Royal Bank of Canada increased their price target on shares of Celestica from $33.00 to $38.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Canaccord Genuity Group increased their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. TD Securities increased their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, CIBC increased their price target on shares of Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Celestica currently has a consensus rating of Moderate Buy and a consensus target price of $36.38.

Celestica Stock Performance

Shares of NYSE:CLS opened at $43.25 on Monday. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 21.31 and a beta of 2.22. The company has a 50-day moving average price of $44.42 and a 200-day moving average price of $34.18. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. Celestica has a 12 month low of $10.50 and a 12 month high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. As a group, equities analysts anticipate that Celestica will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC grew its holdings in Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares during the period. Clearstead Advisors LLC purchased a new stake in Celestica in the third quarter worth about $32,000. Principal Securities Inc. purchased a new stake in Celestica in the fourth quarter worth about $42,000. Blue Trust Inc. grew its holdings in shares of Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after buying an additional 1,384 shares during the last quarter. Finally, Covestor Ltd purchased a new stake in shares of Celestica during the third quarter valued at approximately $68,000. Hedge funds and other institutional investors 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.