Brokerages Set Celestica Inc. (NYSE:CLS) Target Price at $47.22

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $47.22.

A number of research firms have weighed in on CLS. BMO Capital Markets lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Fox Advisors assumed coverage on shares of Celestica in a research note on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price on the stock. Canaccord Genuity Group raised their price target on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Sunday, April 28th. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Friday, May 24th.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Trexquant Investment LP lifted its position in Celestica by 0.6% in the 3rd quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock worth $2,170,000 after buying an additional 502 shares during the last quarter. Byrne Asset Management LLC increased its holdings in shares of 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 buying an additional 550 shares during the period. Guardian Capital Advisors LP lifted its stake in shares of Celestica by 8.5% in the 4th quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after acquiring an additional 685 shares during the last quarter. Blue Trust Inc. grew its position in Celestica by 128.6% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,384 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in Celestica in the 1st quarter worth approximately $64,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Price Performance

Shares of NYSE CLS opened at $58.67 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $52.66 and a two-hundred day simple moving average of $43.42. Celestica has a 1-year low of $14.37 and a 1-year high of $61.06. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 21.89 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Analysts anticipate that Celestica will post 2.87 earnings per share for the current year.

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.