Celestica (NYSE:CLS) Price Target Increased to $8.00 by Analysts at TD Securities

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by research analysts at TD Securities from $6.50 to $8.00 in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a “hold” rating on the technology company’s stock. TD Securities’ target price points to a potential downside of 3.26% from the company’s previous close.

Several other research analysts have also recently weighed in on CLS. BMO Capital Markets lowered their price target on shares of Celestica from $9.50 to $7.00 and set a “market perform” rating on the stock in a research report on Thursday, April 30th. Scotiabank increased their price objective on Celestica from $6.50 to $8.50 and gave the company a “sector perform” rating in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of Celestica from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research note on Thursday. Canaccord Genuity upgraded Celestica from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup upped their target price on shares of Celestica from $5.00 to $7.50 and gave the company a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.35.

CLS opened at $8.27 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. Celestica has a 52-week low of $2.63 and a 52-week high of $9.29. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -413.29, a PEG ratio of 1.01 and a beta of 2.17. The firm’s fifty day simple moving average is $6.81 and its two-hundred day simple moving average is $6.36.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.31 billion. Celestica had a negative net margin of 0.07% and a positive return on equity of 5.10%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, research analysts forecast that Celestica will post 0.61 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE grew its stake in shares of Celestica by 169.1% during the 1st quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock worth $27,000 after purchasing an additional 4,861 shares during the period. Tower Research Capital LLC TRC raised its holdings in Celestica by 1,072.0% in the first quarter. Tower Research Capital LLC TRC now owns 11,486 shares of the technology company’s stock valued at $40,000 after buying an additional 10,506 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Celestica by 96.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,380 shares of the technology company’s stock valued at $43,000 after buying an additional 6,073 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Celestica during the first quarter worth approximately $45,000. Finally, Verus Capital Partners LLC purchased a new stake in Celestica during the fourth quarter worth approximately $128,000. Institutional investors own 62.59% of the company’s stock.

Celestica Company Profile

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, 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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