Celestica (NYSE:CLS) PT Raised to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price lifted by equities researchers at Stifel Nicolaus from $36.00 to $48.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 10.45% from the stock’s current price.

Several other research analysts have also recently weighed in on CLS. CIBC reaffirmed a “neutral” rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a research report on Friday. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. TD Securities upped their price objective on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upped their price objective on Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada upped their price objective on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Celestica Stock Up 0.5 %

NYSE:CLS opened at $43.46 on Friday. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 16.22 and a beta of 2.22. The stock has a 50-day moving average price of $44.57 and a two-hundred day moving average price of $34.42.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. As a group, equities analysts expect that Celestica will post 2.59 earnings per share for the current year.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently bought and sold shares of CLS. WCM Investment Management LLC bought a new stake in Celestica during the fourth quarter worth about $67,832,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after buying an additional 2,054,918 shares during the period. Shannon River Fund Management LLC bought a new stake in Celestica in the third quarter valued at approximately $41,565,000. Point72 Asset Management L.P. raised its stake in Celestica by 72.9% in the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after buying an additional 1,428,071 shares during the period. Finally, Point72 Hong Kong Ltd raised its stake in Celestica by 411.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after buying an additional 1,309,257 shares during the period. Institutional investors 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.