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

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

A number of other research firms have also weighed in on CLS. TD Securities boosted their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on Celestica from $36.00 to $48.00 and gave the stock a hold rating in a research note on Friday. StockNews.com lowered Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Royal Bank of Canada lifted their target price on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets boosted their price objective on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Celestica presently has an average rating of Moderate Buy and a consensus price target of $41.50.

Celestica Stock Up 0.4 %

Celestica stock opened at $43.43 on Friday. 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 has a 50 day simple moving average of $44.57 and a 200-day simple moving average of $34.36. The stock has a market capitalization 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 results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 18.21% and a net margin of 3.86%. On average, analysts anticipate that Celestica will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Several large investors have recently bought and sold shares of the stock. K.J. Harrison & Partners Inc purchased a new stake in Celestica during the 1st quarter worth about $1,123,000. Triasima Portfolio Management inc. purchased a new stake in Celestica during the 1st quarter worth about $12,742,000. UMB Bank n.a. acquired a new position in shares of Celestica during the 1st quarter worth about $64,000. Legacy Bridge LLC acquired a new position in shares of Celestica during the 1st quarter worth about $824,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Celestica during the 1st quarter worth about $759,000. Hedge funds and other institutional investors 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.