Brokerages Set Celestica Inc. (NYSE:CLS) Target Price at $71.45

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $71.45.

Several equities analysts have recently weighed in on the company. UBS Group began coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays assumed coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target on the stock. Finally, TD Securities lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

Celestica Stock Up 2.6 %

CLS stock opened at $85.33 on Friday. The business has a 50-day moving average of $68.66 and a 200-day moving average of $58.50. Celestica has a fifty-two week low of $25.83 and a fifty-two week high of $93.15. The stock has a market capitalization of $9.93 billion, a P/E ratio of 27.09 and a beta of 2.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly 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. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $0.65 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of Celestica

Institutional investors have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in shares of Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares in the last quarter. Optimum Investment Advisors grew its position in Celestica by 66.7% during 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 in the last quarter. Truist Financial Corp increased its stake in Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after acquiring an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after acquiring an additional 275 shares during the period. Finally, Pier Capital LLC raised its holdings in Celestica by 0.4% in the 3rd quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after acquiring an additional 335 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.