Celestica (NYSE:CLS) Price Target Increased to $70.00 by Analysts at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by Stifel Nicolaus from $58.00 to $70.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on the company. CIBC boosted their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, TD Securities boosted their price target on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and an average price target of $66.67.

Celestica Price Performance

Shares of Celestica stock traded up $1.46 during trading on Thursday, hitting $69.40. 1,055,182 shares of the company were exchanged, compared to its average volume of 2,258,872. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 25.34 and a beta of 2.28. The firm has a 50 day moving average price of $52.13 and a 200 day moving average price of $52.13. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $70.07. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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

Institutional Investors Weigh In On Celestica

Several institutional investors have recently bought and sold shares of CLS. Vanguard Group Inc. increased its stake in Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after buying an additional 562,157 shares during the period. Oliver Luxxe Assets LLC bought a new stake in Celestica in the first quarter worth about $3,248,000. Principal Financial Group Inc. acquired a new position in shares of Celestica in the 1st quarter worth approximately $22,669,000. Hartline Investment Corp acquired a new stake in Celestica during the first quarter valued at approximately $494,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Celestica during the first quarter worth approximately $1,231,000. 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.