Celestica (NYSE:CLS) Price Target Raised to $53.00 at Canaccord Genuity Group

Celestica (NYSE:CLS) (TSE:CLS) had its target price upped by Canaccord Genuity Group from $48.00 to $53.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 22.83% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets increased their price target on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada raised their target price on shares of Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. TD Securities raised their price objective on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, CIBC reaffirmed a “neutral” rating and issued a $49.00 target price (up from $41.00) on shares of Celestica in a research note on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

Celestica Trading Down 0.2 %

Shares of CLS stock traded down $0.10 during trading hours on Friday, reaching $43.15. The company had a trading volume of 2,070,405 shares, compared to its average volume of 2,273,499. 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 1-year low of $10.50 and a 1-year high of $51.12. The company has a 50 day moving average of $44.49 and a 200 day moving average of $34.25. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 16.03 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last issued its 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. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, equities research analysts anticipate that Celestica will post 2.59 EPS for the current year.

Institutional Trading of Celestica

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Celestica during the 3rd quarter worth approximately $318,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Celestica during the third quarter worth approximately $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Celestica by 29.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock worth $626,000 after purchasing an additional 5,758 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Celestica by 205.8% in the third quarter. Mackenzie Financial Corp now owns 1,152,790 shares of the technology company’s stock valued at $27,334,000 after buying an additional 775,761 shares during the period. Finally, TD Asset Management Inc raised its holdings in Celestica by 29.5% in the 3rd quarter. TD Asset Management Inc now owns 1,283,037 shares of the technology company’s stock valued at $31,544,000 after acquiring an additional 292,381 shares in the last quarter. 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.