Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) had its price objective hoisted by research analysts at Stifel Nicolaus from $58.00 to $70.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 3.80% from the company’s previous close.
Several other equities analysts have also recently issued reports on CLS. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. CIBC boosted their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. TD Securities lifted their price objective on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $66.00.
View Our Latest Research Report on Celestica
Celestica Stock Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. Celestica’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, research analysts forecast that Celestica will post 3.22 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Celestica
Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after purchasing an additional 8,368,293 shares during the period. Vanguard Group Inc. lifted its position in shares of Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after acquiring an additional 64,658 shares during the period. Acadian Asset Management LLC lifted its position in shares of Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after acquiring an additional 7,335 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Celestica by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after acquiring an additional 1,158,823 shares during the period. 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.
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