Stifel Nicolaus Raises Celestica (NYSE:CLS) Price Target to $58.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by Stifel Nicolaus from $51.00 to $58.00 in a report released on Friday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other research analysts have also recently commented on CLS. Royal Bank of Canada boosted their target price on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. CIBC lifted their price target on Celestica from $49.00 to $58.00 and gave the stock a neutral rating in a report on Monday, May 27th. Fox Advisors began coverage on Celestica in a report on Wednesday, May 15th. They set an overweight rating and a $60.00 price target for the company. BMO Capital Markets lifted their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, June 17th. Finally, StockNews.com raised Celestica from a hold rating to a buy rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Celestica currently has an average rating of Moderate Buy and an average price target of $58.38.

Celestica Trading Down 5.1 %

Shares of NYSE CLS opened at $49.98 on Friday. Celestica has a twelve month low of $20.22 and a twelve month high of $63.49. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $56.61 and a 200-day simple moving average of $47.05. The stock has a market capitalization of $5.94 billion, a PE ratio of 18.66 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last released 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. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm posted $0.55 EPS. Celestica’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts forecast that Celestica will post 2.88 earnings per share for the current year.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its holdings in shares of Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the last quarter. Bay Rivers Group lifted its holdings in shares of Celestica by 1.9% in the 2nd quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock valued at $1,119,000 after purchasing an additional 370 shares during the last quarter. Naples Money Management LLC lifted its holdings in shares of Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after purchasing an additional 450 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in shares of Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after purchasing an additional 550 shares during the last quarter. Finally, Guardian Capital Advisors LP lifted its holdings in shares of Celestica by 8.5% in the 4th quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after purchasing an additional 685 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

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.