Celestica (NYSE:CLS) Given New $58.00 Price Target at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) had its target price raised by Stifel Nicolaus from $51.00 to $58.00 in a research report sent to investors on Friday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Celestica from a hold rating to a buy rating in a report on Thursday. BMO Capital Markets boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, June 17th. Canaccord Genuity Group boosted their price objective on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, July 22nd. Finally, CIBC lifted their target price on shares of Celestica from $49.00 to $58.00 and gave the company a neutral rating in a research report on Monday, May 27th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $54.44.

Celestica Stock Performance

Shares of CLS opened at $52.69 on Friday. The company has a market capitalization of $6.26 billion, a PE ratio of 19.66 and a beta of 2.31. Celestica has a one year low of $17.73 and a one year high of $63.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The company’s fifty day moving average price is $56.61 and its 200 day moving average price is $46.80.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 20.14%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, analysts expect that Celestica will post 2.88 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC acquired a new position in Celestica in the first quarter valued at about $3,248,000. Dimensional Fund Advisors LP lifted its position in shares of Celestica by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock worth $38,491,000 after purchasing an additional 147,417 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Celestica by 62.9% during the first quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock worth $24,548,000 after purchasing an additional 210,943 shares in the last quarter. AJOVista LLC acquired a new position in shares of Celestica during the fourth quarter worth approximately $123,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Celestica in the first quarter valued at approximately $1,231,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

About Celestica

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.