Celestica (NYSE:CLS) PT Raised to $8.50

Celestica (NYSE:CLS) (TSE:CLS) had its price objective boosted by investment analysts at Royal Bank of Canada from $7.50 to $8.50 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 2.78% from the company’s current price.

A number of other analysts have also recently weighed in on the company. BMO Capital Markets dropped their target price on Celestica from $9.50 to $7.00 and set a “market perform” rating on the stock in a report on Thursday, April 30th. TD Securities boosted their price objective on shares of Celestica from $4.50 to $6.50 and gave the company a “hold” rating in a research note on Thursday, April 30th. ValuEngine cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Pi Financial reiterated a “buy” rating and set a $11.40 price target on shares of Celestica in a research note on Monday, July 27th. Finally, Stifel Nicolaus raised their price objective on shares of Celestica from $3.50 to $6.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.35.

Shares of NYSE CLS opened at $8.27 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.07 billion, a P/E ratio of -413.29, a P/E/G ratio of 1.01 and a beta of 2.17. The stock has a 50 day moving average of $6.81 and a two-hundred day moving average of $6.36. Celestica has a twelve month low of $2.63 and a twelve month high of $9.29.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.25 EPS 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 the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. Celestica’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Celestica will post 0.61 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in CLS. US Bancorp DE grew its position in Celestica by 169.1% during the first quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock worth $27,000 after buying an additional 4,861 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Celestica by 1,072.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 11,486 shares of the technology company’s stock worth $40,000 after buying an additional 10,506 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Celestica by 96.3% in 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 during the period. Hennessy Advisors Inc. bought a new position in Celestica during the first quarter valued at about $45,000. Finally, AJO LP acquired a new position in Celestica during the first quarter worth about $58,000. 62.59% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

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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