Celestica (NYSE:CLS) Price Target Raised to $360.00

by · The Cerbat Gem

Celestica (NYSE:CLS – Free Report) (TSE:CLS) had its price objective hoisted by JPMorgan Chase & Co. from $295.00 to $360.00 in a report issued on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts also recently issued reports on CLS. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on shares of Celestica from $126.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. TD Cowen restated a “hold” rating and set a $238.00 target price on shares of Celestica in a research report on Friday, October 3rd. Finally, CIBC upped their price target on Celestica from $245.00 to $315.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $325.13.

Read Our Latest Report on CLS

Celestica Stock Performance

Shares of NYSE:CLS opened at $344.48 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Celestica has a 1-year low of $58.05 and a 1-year high of $360.99. The stock has a market capitalization of $39.63 billion, a P/E ratio of 55.92 and a beta of 1.88. The business has a 50-day moving average price of $252.81 and a two-hundred day moving average price of $179.07.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company posted $1.04 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. Equities analysts predict that Celestica will post 4.35 earnings per share for the current year.

Insider Activity at Celestica

In related news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction dated Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its position in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares during the period. World Equity Group Inc. grew its position in shares of Celestica by 1.7% in the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC grew its position in shares of Celestica by 3.2% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock valued at $398,000 after purchasing an additional 50 shares during the period. McIlrath & Eck LLC grew its position in shares of Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock valued at $45,000 after purchasing an additional 55 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of Celestica by 20.0% in the 2nd quarter. Rothschild Investment LLC now owns 390 shares of the technology company’s stock valued at $61,000 after purchasing an additional 65 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

(Get Free Report)

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.

See Also