TD Securities Raises Celestica (NYSE:CLS) Price Target to $70.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by TD Securities from $68.00 to $70.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the technology company’s stock. TD Securities’ target price would suggest a potential upside of 5.06% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. TD Cowen boosted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.67.

Celestica Price Performance

CLS stock traded up $9.16 during mid-day trading on Thursday, hitting $66.63. The company had a trading volume of 5,269,313 shares, compared to its average volume of 2,252,954. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 24.89 and a beta of 2.28. Celestica has a 12-month low of $20.87 and a 12-month high of $68.44. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $51.89 and a 200 day moving average price of $52.02.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, research analysts anticipate that Celestica will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of CLS. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $391,147,000 after purchasing an additional 8,368,293 shares during the period. Driehaus Capital Management LLC lifted its position in shares of Celestica by 19,876.9% in the 2nd 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. Vanguard Group Inc. lifted its position in shares of Celestica by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after purchasing an additional 562,157 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Celestica in the 1st quarter worth approximately $22,669,000. Finally, Broad Peak Investment Holdings Ltd. purchased a new stake in shares of Celestica in the 1st quarter worth approximately $10,096,000. Hedge funds and other institutional investors 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.