BMO Capital Markets Increases Celestica (NYSE:CLS) Price Target to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price raised by investment analysts at BMO Capital Markets from $37.00 to $48.00 in a report issued on Monday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ target price suggests a potential upside of 9.71% from the stock’s previous close.

Several other equities research analysts also recently commented on CLS. Canaccord Genuity Group boosted their target price on shares of Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. CIBC boosted their price objective on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Royal Bank of Canada upped their price target on Celestica from $33.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, TD Securities raised their price objective on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $36.38.

Celestica Stock Performance

Shares of CLS opened at $43.75 on Monday. The stock has a 50-day moving average of $44.20 and a 200-day moving average of $33.99. The company has a market cap of $5.22 billion, a PE ratio of 21.65 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. Celestica has a one year low of $10.50 and a one year high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. On average, equities research analysts predict that Celestica will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in CLS. Trexquant Investment LP increased its holdings in Celestica by 0.6% during the third quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock worth $2,170,000 after buying an additional 502 shares during the last quarter. Byrne Asset Management LLC raised its holdings in shares of Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares during the period. Guardian Capital Advisors LP lifted its stake in Celestica by 8.5% in the fourth quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after purchasing an additional 685 shares during the last quarter. Clearstead Advisors LLC bought a new position in Celestica during the third quarter valued at $32,000. Finally, Blue Trust Inc. increased its position in Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after buying an additional 1,384 shares during 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.