BMO Capital Markets Raises Celestica (NYSE:CLS) Price Target to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price lifted by BMO Capital Markets from $37.00 to $48.00 in a report issued on Monday morning, Marketbeat reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also recently commented on CLS. CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. TD Securities boosted their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. StockNews.com lowered Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Canaccord Genuity Group boosted their price objective on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada boosted their price objective on Celestica from $33.00 to $38.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven 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 $36.38.

Celestica Stock Up 0.8 %

Shares of NYSE CLS opened at $44.10 on Monday. Celestica has a one year low of $10.50 and a one year high of $51.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The business’s fifty day moving average price is $44.32 and its 200-day moving average price is $34.11. The stock has a market capitalization of $5.26 billion, a PE ratio of 21.77 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, equities research analysts anticipate that Celestica will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC bought a new position in Celestica in the 3rd quarter worth about $32,000. Principal Securities Inc. purchased a new position in shares of Celestica in the 4th quarter worth about $42,000. Byrne Asset Management LLC boosted its holdings in shares of Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares in the last quarter. Covestor Ltd purchased a new position in shares of Celestica in the 3rd quarter worth about $68,000. Finally, Blue Trust Inc. boosted its holdings in shares of Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,384 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.