BMO Capital Markets Boosts Celestica (NYSE:CLS) Price Target to $72.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lifted by BMO Capital Markets from $64.00 to $72.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on CLS. CIBC boosted their price objective on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. TD Securities upped their price target on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Canaccord Genuity Group lifted their price target on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Celestica Trading Up 2.5 %

Shares of NYSE CLS traded up $1.71 during trading hours on Thursday, hitting $69.65. 739,855 shares of the company traded hands, compared to its average volume of 2,257,349. The company’s 50 day moving average price is $52.13 and its 200 day moving average price is $52.13. Celestica has a 12 month low of $20.87 and a 12 month high of $70.07. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 25.34 and a beta of 2.28. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

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

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors raised its position in shares of Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Celestica in the third quarter valued at about $30,000. UMB Bank n.a. bought a new position in Celestica in the third quarter worth about $34,000. Wolff Wiese Magana LLC lifted its position 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 valued at $40,000 after buying an additional 170 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of Celestica in the 3rd quarter valued at about $51,000. 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.