Brokerages Set Celestica Inc. (NYSE:CLS) Price Target at $71.45

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $71.45.

Several research analysts have commented on the company. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. TD Securities upped their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Celestica Stock Performance

Celestica stock opened at $83.18 on Friday. The business has a 50 day moving average of $66.53 and a 200-day moving average of $57.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a 1 year low of $25.83 and a 1 year high of $93.15. The company has a market capitalization of $9.68 billion, a P/E ratio of 26.41 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts predict that Celestica will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Celestica by 117.8% during the first quarter. Sei Investments Co. now owns 40,560 shares of the technology company’s stock valued at $1,823,000 after acquiring an additional 21,940 shares in the last quarter. Vanguard Group Inc. increased its stake in Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after buying an additional 8,368,293 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Celestica in the first quarter valued at $276,000. Finally, Bayesian Capital Management LP bought a new position in shares of Celestica in the first quarter valued at $1,659,000. 67.38% of the stock is 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.