Celestica Inc. (NYSE:CLS) Receives $74.18 Consensus Target Price from Brokerages

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS has been assigned an average recommendation of "Moderate Buy" from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $74.18.

A number of brokerages recently weighed in on CLS. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. TD Securities lifted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Barclays assumed coverage on Celestica in a research note on Tuesday, November 5th. They issued an "overweight" rating and a $91.00 price objective on the stock. Stifel Nicolaus lifted their target price on Celestica from $70.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, UBS Group started coverage on Celestica in a report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 target price for the company.

Celestica Trading Down 5.8 %

Shares of NYSE:CLS traded down $5.70 during trading hours on Wednesday, hitting $92.11. 2,633,296 shares of the company's stock traded hands, compared to its average volume of 2,284,746. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The business has a fifty day moving average price of $78.39 and a 200-day moving average price of $61.71. Celestica has a 1 year low of $26.62 and a 1 year high of $100.51. The firm has a market capitalization of $10.72 billion, a P/E ratio of 29.24 and a beta of 2.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Celestica's revenue was up 24.8% compared to the same quarter last year. Equities analysts expect that Celestica will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in Celestica by 21.1% in the third quarter. Franklin Resources Inc. now owns 276,788 shares of the technology company's stock valued at $14,149,000 after buying an additional 48,251 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Celestica in the 3rd quarter valued at approximately $4,003,000. Sanctuary Advisors LLC boosted its stake in Celestica by 10.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 41,228 shares of the technology company's stock worth $2,108,000 after purchasing an additional 3,902 shares in the last quarter. Invst LLC grew its position in Celestica by 24.0% during the 3rd quarter. Invst LLC now owns 10,069 shares of the technology company's stock worth $515,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in Celestica during the 3rd quarter valued at approximately $263,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.