Celestica (NYSE:CLS) Given New $53.00 Price Target at Canaccord Genuity Group

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by Canaccord Genuity Group from $48.00 to $53.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a buy rating on the technology company’s stock.

CLS has been the subject of a number of other reports. CIBC restated a neutral rating and issued a $49.00 target price (up from $41.00) on shares of Celestica in a research report on Friday. TD Securities upped their target price on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. StockNews.com lowered Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Stifel Nicolaus boosted their target price on Celestica from $36.00 to $48.00 and gave the stock a hold rating in a research report on Friday. Finally, BMO Capital Markets boosted their target price on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $41.50.

Celestica Stock Performance

Shares of NYSE CLS opened at $43.43 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $44.57 and a 200-day simple moving average of $34.36. The company has a market cap of $5.18 billion, a PE ratio of 16.21 and a beta of 2.22. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (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 return on equity of 18.21% and a net margin of 3.86%. On average, equities research analysts forecast that Celestica will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Celestica during the third quarter valued at $1,422,000. Jetstream Capital LLC acquired a new position in Celestica during the third quarter valued at $2,452,000. American Century Companies Inc. grew its stake in Celestica by 82.4% in the third quarter. American Century Companies Inc. now owns 374,693 shares of the technology company’s stock valued at $9,170,000 after purchasing an additional 169,277 shares in the last quarter. Vanguard Group Inc. grew its stake in Celestica by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock valued at $90,831,000 after purchasing an additional 47,619 shares in the last quarter. Finally, Shell Asset Management Co. grew its stake in Celestica by 1,604.1% in the third quarter. Shell Asset Management Co. now owns 140,264 shares of the technology company’s stock valued at $3,440,000 after purchasing an additional 132,033 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.