Celestica (NYSE:CLS) Price Target Raised to $70.00 at TD Cowen

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by TD Cowen from $68.00 to $70.00 in a report released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also commented on CLS. Canaccord Genuity Group raised their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus increased their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC increased their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Celestica Trading Up 2.1 %

Shares of CLS stock opened at $69.38 on Thursday. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 25.89 and a beta of 2.28. The company’s fifty day simple moving average is $52.42 and its two-hundred day simple moving average is $52.35. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. As a group, analysts anticipate that Celestica will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after purchasing an additional 8,368,293 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after buying an additional 64,658 shares in the last quarter. Acadian Asset Management LLC lifted its position in Celestica by 0.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock worth $118,730,000 after buying an additional 7,335 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares in the last quarter. Institutional investors 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.