Celestica (NYSE:CLS) Given New $48.00 Price Target at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) had its target price boosted by Stifel Nicolaus from $36.00 to $48.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other research analysts have also issued reports on CLS. BMO Capital Markets upped their target price on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Canaccord Genuity Group boosted their price target on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research note on Wednesday, January 31st. CIBC reiterated a neutral rating and set a $49.00 price target (up previously from $41.00) on shares of Celestica in a research note on Friday. Royal Bank of Canada boosted their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Finally, TD Securities boosted their price target on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $41.50.

Celestica Trading Up 0.4 %

Shares of NYSE:CLS opened at $43.43 on Friday. The business’s 50-day moving average is $44.57 and its 200 day moving average is $34.36. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12. The firm has a market capitalization of $5.18 billion, a P/E ratio of 16.21 and a beta of 2.22. 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 (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, research analysts predict that Celestica will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Celestica

A number of hedge funds have recently modified their holdings of CLS. WCM Investment Management LLC purchased a new stake in shares of Celestica in the fourth quarter worth about $67,832,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Celestica by 50.9% in 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 buying an additional 2,054,918 shares during the last quarter. Shannon River Fund Management LLC purchased a new position in Celestica during the third quarter worth approximately $41,565,000. Point72 Asset Management L.P. boosted 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 purchasing an additional 1,428,071 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in Celestica by 411.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock worth $47,654,000 after purchasing an additional 1,309,257 shares in the last quarter. Hedge funds and other 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.