Celestica (NYSE:CLS) PT Raised to $70.00 at TD Cowen

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lifted by stock analysts at TD Cowen from $68.00 to $70.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. TD Cowen’s target price indicates a potential upside of 4.12% from the stock’s current price.

Several other equities analysts have also commented on CLS. CIBC upped their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. TD Securities boosted their price objective on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus boosted their price objective on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Canaccord Genuity Group raised their price objective on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.44.

Celestica Stock Up 17.0 %

Shares of NYSE:CLS traded up $9.76 during trading on Thursday, hitting $67.23. The company’s stock had a trading volume of 4,882,053 shares, compared to its average volume of 2,251,556. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The company has a market capitalization of $7.99 billion, a PE ratio of 25.05 and a beta of 2.28. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $68.44. The stock’s 50-day moving average price is $51.89 and its two-hundred day moving average price is $52.02.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. Celestica’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, sell-side analysts expect that Celestica will post 3.22 EPS for the current year.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently modified their holdings of CLS. Optimum Investment Advisors boosted its position in shares of Celestica by 66.7% in 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 period. UMB Bank n.a. acquired a new stake in shares of Celestica in the third quarter worth $34,000. Wolff Wiese Magana LLC raised its holdings in shares of Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Celestica during the third quarter worth $51,000. Finally, Naples Money Management LLC raised its holdings in shares of Celestica by 90.0% during the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares in the last quarter. Institutional investors and hedge funds 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.