Celestica (NYSE:CLS) Price Target Raised to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price hoisted by stock analysts at Stifel Nicolaus from $36.00 to $48.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 12.52% from the stock’s current price.

A number of other equities analysts also recently commented on CLS. Royal Bank of Canada boosted their target price on shares of Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday. CIBC reissued a “neutral” rating and issued a $49.00 price target (up from $41.00) on shares of Celestica in a research report on Friday. Canaccord Genuity Group boosted their price target on shares of Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, TD Securities upped their target price on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.63.

Celestica Stock Down 1.4 %

Shares of NYSE:CLS traded down $0.59 during trading on Friday, hitting $42.66. The company’s stock had a trading volume of 1,539,530 shares, compared to its average volume of 2,266,985. The business has a 50 day moving average price of $44.49 and a two-hundred day moving average price of $34.25. The company has a market capitalization of $5.09 billion, a PE ratio of 15.78 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. Celestica has a fifty-two week low of $10.50 and a fifty-two week high of $51.12.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Celestica by 50.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after purchasing an additional 2,054,918 shares in the last quarter. Vanguard Group Inc. raised its holdings in Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after purchasing an additional 562,157 shares in the last quarter. Point72 Asset Management L.P. grew its position in Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after buying an additional 1,428,071 shares during the period. WCM Investment Management LLC grew its position in Celestica by 4.6% during the first quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock worth $107,782,000 after buying an additional 105,943 shares during the period. Finally, Shannon River Fund Management LLC acquired a new position in Celestica during the third quarter worth about $41,565,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.