Stifel Nicolaus Raises Celestica (NYSE:CLS) Price Target to $58.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lifted by Stifel Nicolaus from $51.00 to $58.00 in a research note published on Friday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada lifted their price objective on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, July 22nd. Canaccord Genuity Group boosted their price target on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday, April 26th. CIBC boosted their price target on Celestica from $49.00 to $58.00 and gave the company a neutral rating in a research note on Monday, May 27th. StockNews.com upgraded Celestica from a hold rating to a buy rating in a research note on Thursday, July 25th. Finally, Fox Advisors initiated coverage on Celestica in a research note on Wednesday, May 15th. They set an overweight rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $58.38.

Celestica Stock Performance

Shares of Celestica stock opened at $49.98 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $5.94 billion, a P/E ratio of 18.66 and a beta of 2.31. The business has a fifty day simple moving average of $56.61 and a two-hundred day simple moving average of $47.05. Celestica has a 12 month low of $20.22 and a 12 month high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. Celestica’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, equities analysts forecast that Celestica will post 2.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC lifted its holdings in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares in the last quarter. Naples Money Management LLC lifted its holdings in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Celestica in the 2nd quarter worth approximately $59,000. Byrne Asset Management LLC lifted its holdings in 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. Finally, UMB Bank n.a. purchased a new position in Celestica in the 1st quarter worth approximately $64,000. 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.