Celestica (NYSE:CLS) Price Target Raised to $53.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price upped by Canaccord Genuity Group from $48.00 to $53.00 in a report issued on Friday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on CLS. StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. CIBC reaffirmed a neutral rating and issued a $49.00 target price (up from $41.00) on shares of Celestica in a report on Friday. TD Securities raised their target price on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Royal Bank of Canada raised their target price on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Finally, BMO Capital Markets raised their target price on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Celestica has an average rating of Moderate Buy and an average price target of $42.25.

Celestica Stock Performance

CLS stock opened at $44.03 on Friday. The company has a market cap of $5.25 billion, a P/E ratio of 16.43 and a beta of 2.22. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The stock’s fifty day moving average price is $44.66 and its 200-day moving average price is $34.60.

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

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the business. Byrne Asset Management LLC raised its holdings in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after acquiring an additional 550 shares during the period. Clearstead Advisors LLC bought a new stake in Celestica during the third quarter valued at about $32,000. UMB Bank n.a. bought a new stake in Celestica during the first quarter valued at about $64,000. Principal Securities Inc. bought a new stake in Celestica during the fourth quarter valued at about $42,000. Finally, Blue Trust Inc. raised its holdings in Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after acquiring an additional 1,384 shares during the period. 67.38% of the stock is 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.