Celestica (NYSE:CLS) Price Target Increased to $48.00 by Analysts at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by Stifel Nicolaus from $36.00 to $48.00 in a report published on Friday, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other brokerages also recently weighed in on CLS. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. CIBC reaffirmed a neutral rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a research note on Friday. TD Securities upped their price objective on shares of Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upped their price objective on shares of Celestica from $32.50 to $38.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets upped their price objective on shares of Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $42.25.

Celestica Price Performance

Shares of NYSE CLS opened at $44.03 on Friday. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 16.43 and a beta of 2.22. The firm has a 50-day moving average of $44.66 and a two-hundred day moving average of $34.60.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. As a group, analysts expect that Celestica will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Celestica by 50.9% in the 3rd 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 purchasing an additional 2,054,918 shares during the period. Vanguard Group Inc. increased its holdings in shares of Celestica by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after purchasing an additional 562,157 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Celestica by 72.9% in the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after purchasing an additional 1,428,071 shares during the period. WCM Investment Management LLC increased its holdings in shares of Celestica by 4.6% in the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock valued at $107,782,000 after purchasing an additional 105,943 shares during the period. Finally, Shannon River Fund Management LLC acquired a new position in shares of Celestica in the 3rd quarter valued at about $41,565,000. Institutional investors and hedge funds 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.