TD Securities Raises Celestica (NYSE:CLS) Price Target to $8.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by TD Securities from $6.50 to $8.00 in a report released on Thursday, AnalystRatings.com reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other research firms have also commented on CLS. Stifel Nicolaus lifted their price objective on Celestica from $3.50 to $6.00 and gave the stock a hold rating in a research note on Thursday, April 30th. BMO Capital Markets decreased their price objective on Celestica from $9.50 to $7.00 and set a market perform rating for the company in a report on Thursday, April 30th. Pi Financial reiterated a buy rating and set a $11.40 price target on shares of Celestica in a report on Monday, July 27th. Royal Bank of Canada upped their price target on Celestica from $7.50 to $8.50 and gave the stock a sector perform rating in a report on Thursday. Finally, Zacks Investment Research downgraded Celestica from a buy rating to a hold rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Celestica currently has an average rating of Hold and a consensus price target of $8.35.

Shares of Celestica stock opened at $8.27 on Thursday. Celestica has a 1 year low of $2.63 and a 1 year high of $9.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.62 and a quick ratio of 1.03. The company 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 business has a fifty day simple moving average of $6.81 and a two-hundred day simple moving average of $6.36.

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

Several large investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its holdings in shares of Celestica by 6.9% in the 2nd quarter. Pzena Investment Management LLC now owns 7,033,313 shares of the technology company’s stock valued at $48,038,000 after acquiring an additional 452,236 shares in the last quarter. Morgan Stanley raised its holdings in shares of Celestica by 64.0% in the 1st quarter. Morgan Stanley now owns 3,230,116 shares of the technology company’s stock valued at $11,306,000 after acquiring an additional 1,260,575 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Celestica by 325.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,920,200 shares of the technology company’s stock valued at $10,256,000 after acquiring an additional 2,234,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Celestica by 40.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,445,764 shares of the technology company’s stock valued at $8,591,000 after acquiring an additional 701,243 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Celestica by 42.2% in the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,384,970 shares of the technology company’s stock valued at $8,377,000 after acquiring an additional 708,080 shares in the last quarter. 62.59% of the stock is currently owned by hedge funds and other 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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