CIBC Increases Celestica (NYSE:CLS) Price Target to $60.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by investment analysts at CIBC from $58.00 to $60.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. CIBC’s price target would indicate a potential upside of 12.99% from the stock’s previous close.

A number of other research firms have also weighed in on CLS. StockNews.com raised Celestica from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets boosted their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Canaccord Genuity Group boosted their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus boosted their target price on shares of Celestica from $51.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Fox Advisors began coverage on shares of Celestica in a research note on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.44.

Celestica Stock Up 4.0 %

Shares of Celestica stock traded up $2.03 during trading hours on Friday, reaching $53.10. 979,748 shares of the company were exchanged, compared to its average volume of 2,271,426. Celestica has a 1 year low of $17.73 and a 1 year high of $63.49. The stock’s fifty day moving average is $56.59 and its 200 day moving average is $46.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The firm has a market cap of $6.31 billion, a PE ratio of 19.76 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a return on equity of 20.14% and a net margin of 4.16%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts forecast that Celestica will post 2.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CLS. Oliver Luxxe Assets LLC acquired a new stake in shares of Celestica during the 1st quarter valued at approximately $3,248,000. Dimensional Fund Advisors LP grew its stake in shares of Celestica by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock valued at $38,491,000 after buying an additional 147,417 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Celestica by 62.9% during the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after buying an additional 210,943 shares during the period. AJOVista LLC purchased a new stake in shares of Celestica during the 4th quarter valued at $123,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Celestica during the 1st quarter valued at $1,231,000. 67.38% of the stock is owned by hedge funds and other 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.