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

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $71.45.

A number of equities research analysts have recently weighed in on CLS shares. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. TD Securities boosted their target price 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. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Celestica by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 276,788 shares of the technology company’s stock valued at $14,149,000 after purchasing an additional 48,251 shares during the last quarter. World Investment Advisors LLC bought a new stake in Celestica during the third quarter valued at $4,003,000. Sanctuary Advisors LLC grew its holdings in Celestica by 10.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 41,228 shares of the technology company’s stock worth $2,108,000 after acquiring an additional 3,902 shares during the period. Invst LLC raised its position in shares of Celestica by 24.0% in the 3rd quarter. Invst LLC now owns 10,069 shares of the technology company’s stock worth $515,000 after acquiring an additional 1,948 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Celestica in the 3rd quarter valued at about $263,000. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of NYSE:CLS opened at $85.33 on Friday. Celestica has a 1 year low of $25.83 and a 1 year high of $93.15. The stock has a market capitalization of $9.93 billion, a price-to-earnings 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. The company’s 50 day simple moving average is $68.66 and its 200 day simple moving average is $58.50.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. Celestica’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, research analysts predict that Celestica will post 3.44 EPS for the current fiscal year.

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.