Celestica (NYSE:CLS) Price Target Raised to $100.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by investment analysts at Stifel Nicolaus from $70.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 10.62% from the stock’s current price.

Several other research firms have also issued reports on CLS. UBS Group started coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays assumed coverage on shares of Celestica in a report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock. Finally, BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Celestica Trading Down 0.0 %

Shares of CLS traded down $0.02 during trading on Tuesday, reaching $90.40. 482,041 shares of the company traded hands, compared to its average volume of 2,281,997. The stock has a 50-day simple moving average of $73.40 and a 200-day simple moving average of $60.19. The stock has a market cap of $10.52 billion, a PE ratio of 28.70 and a beta of 2.27. Celestica has a twelve month low of $26.62 and a twelve month high of $96.00. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts anticipate that Celestica will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CLS. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica during the third quarter worth about $61,210,000. Driehaus Capital Management LLC boosted its position in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares during the period. Whale Rock Capital Management LLC grew its stake in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after buying an additional 975,163 shares during the last quarter. Point72 Asset Management L.P. increased its position in Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Celestica by 1,697.3% in the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after buying an additional 220,494 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.