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

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by TD Securities from $68.00 to $70.00 in a report released on Thursday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the technology company’s stock.

CLS has been the topic of several other research reports. Canaccord Genuity Group lifted their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Celestica Price Performance

Celestica stock traded up $1.46 during trading hours on Thursday, hitting $69.40. 1,055,182 shares of the company traded hands, compared to its average volume of 2,258,872. Celestica has a 1-year low of $20.87 and a 1-year high of $70.07. The firm has a market cap of $8.25 billion, a P/E ratio of 25.34 and a beta of 2.28. The firm’s 50-day simple moving average is $52.13 and its two-hundred day simple moving average is $52.13. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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

Hedge Funds Weigh In On Celestica

Several hedge funds have recently bought and sold shares of CLS. Vanguard Group Inc. grew its position in shares of Celestica by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after purchasing an additional 562,157 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in Celestica in the 1st quarter valued at approximately $3,248,000. Principal Financial Group Inc. bought a new position in Celestica in the 1st quarter worth approximately $22,669,000. Hartline Investment Corp acquired a new position in shares of Celestica during the first quarter worth approximately $494,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Celestica in the first quarter valued at approximately $1,231,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.