TD Securities Raises Celestica (NYSE:CLS) Price Target to $8.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price lifted by TD Securities from $6.50 to $8.00 in a report released on Thursday, AnalystRatings.com reports. TD Securities currently has a hold rating on the technology company’s stock.

A number of other research firms also recently commented on CLS. Royal Bank of Canada boosted their price target on shares of Celestica from $7.50 to $8.50 and gave the stock a sector perform rating in a research report on Thursday. TheStreet downgraded shares of Celestica from a c- rating to a d rating in a research report on Wednesday, April 29th. Zacks Investment Research downgraded shares of Celestica from a buy rating to a hold rating in a research report on Monday, June 29th. Citigroup boosted their price target on shares of Celestica from $5.00 to $7.50 and gave the stock a sell rating in a research report on Thursday. Finally, Pi Financial reaffirmed a buy rating and issued a $11.40 price objective on shares of Celestica in a research note on Monday, July 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $8.35.

Shares of NYSE:CLS opened at $8.27 on Thursday. The company has a market cap of $1.07 billion, a PE ratio of -413.29, a P/E/G ratio of 1.01 and a beta of 2.17. The company’s 50-day moving average price is $6.81 and its 200 day moving average price is $6.36. Celestica has a fifty-two week low of $2.63 and a fifty-two week high of $9.29. The company has a quick ratio of 1.03, a current ratio of 1.62 and a debt-to-equity ratio of 0.36.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.10. Celestica had a negative net margin of 0.07% and a positive return on equity of 5.10%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $0.12 EPS. Celestica’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Celestica will post 0.61 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Celestica by 3.2% in the second quarter. CIBC Asset Management Inc now owns 75,220 shares of the technology company’s stock worth $515,000 after acquiring an additional 2,303 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Celestica by 4.2% in the second quarter. Janney Montgomery Scott LLC now owns 64,128 shares of the technology company’s stock worth $438,000 after acquiring an additional 2,609 shares in the last quarter. Verus Capital Partners LLC increased its position in shares of Celestica by 28.3% in the first quarter. Verus Capital Partners LLC now owns 19,816 shares of the technology company’s stock worth $69,000 after acquiring an additional 4,365 shares in the last quarter. US Bancorp DE increased its position in shares of Celestica by 169.1% in the first quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock worth $27,000 after acquiring an additional 4,861 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Celestica by 43.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,776 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,396 shares in the last quarter. 62.59% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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