Celestica (NYSE:CLS) Given a $305.00 Price Target at TD Securities

by · The Markets Daily

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) has been assigned a $305.00 price target by research analysts at TD Securities in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the technology company’s stock. TD Securities’ target price indicates a potential downside of 3.19% from the company’s current price.

Several other analysts have also issued reports on CLS. UBS Group upped their target price on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $385.00 target price (up previously from $230.00) on shares of Celestica in a report on Wednesday, October 29th. Royal Bank Of Canada boosted their price target on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. Finally, New Street Research set a $400.00 price target on Celestica in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $340.75.

Get Our Latest Stock Report on Celestica

Celestica Price Performance

Shares of CLS stock traded up $4.31 during trading on Wednesday, hitting $315.07. The company had a trading volume of 1,840,777 shares, compared to its average volume of 2,234,449. The stock’s 50-day moving average is $310.10 and its two-hundred day moving average is $259.63. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 51.15 and a beta of 1.87. Celestica has a 52 week low of $58.05 and a 52 week high of $363.40.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, analysts predict that Celestica will post 4.35 EPS for the current fiscal year.

Insider Activity at Celestica

In related news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. bought a new position in shares of Celestica during the 2nd quarter valued at approximately $328,000. Y Intercept Hong Kong Ltd boosted its stake in Celestica by 406.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock worth $8,212,000 after buying an additional 42,215 shares during the period. Fortis Capital Advisors LLC bought a new position in Celestica during the second quarter valued at $343,000. Light Street Capital Management LLC purchased a new stake in shares of Celestica in the second quarter valued at $26,422,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Celestica by 2.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock worth $22,356,000 after acquiring an additional 3,221 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

(Get Free Report)

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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