Celestica (NYSE:CLS) PT Raised to $8.50

Celestica (NYSE:CLS) (TSE:CLS) had its target price raised by equities researchers at Scotiabank from $6.50 to $8.50 in a research note issued on Thursday, AnalystRatings.com reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Scotiabank’s target price indicates a potential upside of 2.78% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Pi Financial restated a “buy” rating and issued a $11.40 price objective on shares of Celestica in a research report on Monday, July 27th. BMO Capital Markets lowered their target price on Celestica from $9.50 to $7.00 and set a “market perform” rating for the company in a research note on Thursday, April 30th. Canaccord Genuity raised Celestica from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada lifted their price objective on Celestica from $7.50 to $8.50 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, TheStreet cut Celestica from a “c-” rating to a “d” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $8.35.

Celestica stock opened at $8.27 on Thursday. The stock has a 50-day simple moving average of $6.81 and a 200 day simple moving average of $6.36. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -413.29, a P/E/G ratio of 1.01 and a beta of 2.17. 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 12-month low of $2.63 and a 12-month high of $9.29.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.10. Celestica had a negative net margin of 0.07% and a positive return on equity of 5.10%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.12 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celestica will post 0.61 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. grew its position in Celestica by 325.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 2,920,200 shares of the technology company’s stock worth $10,256,000 after acquiring an additional 2,234,300 shares during the last quarter. Norges Bank acquired a new position in shares of Celestica in the fourth quarter valued at approximately $14,957,000. Acadian Asset Management LLC raised its holdings in Celestica by 494.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,557,355 shares of the technology company’s stock valued at $5,405,000 after buying an additional 1,295,344 shares during the last quarter. Pzena Investment Management LLC boosted its position in Celestica by 24.0% during the 1st quarter. Pzena Investment Management LLC now owns 6,581,077 shares of the technology company’s stock worth $23,034,000 after buying an additional 1,275,432 shares during the period. Finally, Morgan Stanley boosted its position in Celestica by 64.0% during the 1st quarter. Morgan Stanley now owns 3,230,116 shares of the technology company’s stock worth $11,306,000 after buying an additional 1,260,575 shares during the period. 62.59% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Celestica (NYSE:CLS)

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