Celestica (NYSE:CLS) Given New $110.00 Price Target at Canaccord Genuity Group

Celestica (NYSE:CLS) (TSE:CLS) had its target price increased by Canaccord Genuity Group from $77.00 to $110.00 in a research note released on Friday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays started coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. TD Securities increased their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.82.

Celestica Stock Performance

Shares of Celestica stock opened at $95.45 on Friday. Celestica has a 52 week low of $26.62 and a 52 week high of $100.51. The company has a market capitalization of $11.11 billion, a PE ratio of 30.30 and a beta of 2.27. The stock’s fifty day moving average is $80.35 and its two-hundred day moving average is $62.41. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts expect that Celestica will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently modified their holdings of the stock. Westover Capital Advisors LLC raised its position in shares of Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after acquiring an additional 3,764 shares during the period. Quantbot Technologies LP boosted its position in Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Celestica in the third quarter valued at approximately $61,210,000. Sigma Planning Corp purchased a new stake in shares of Celestica in the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after buying an additional 12,584 shares in the last quarter. 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.