Celestica (NYSE:CLS) Price Target Raised to $110.00

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price target lifted by equities research analysts at Canaccord Genuity Group from $77.00 to $110.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the technology company's stock. Canaccord Genuity Group's target price suggests a potential upside of 15.24% from the company's current price.

A number of other equities analysts have also commented on the stock. BMO Capital Markets lifted their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Barclays started coverage on Celestica in a report on Tuesday, November 5th. They set an "overweight" rating and a $91.00 target price on the stock. TD Securities increased their price target on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Royal Bank of Canada raised their price objective on Celestica from $65.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, TD Cowen 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Celestica has an average rating of "Moderate Buy" and an average target price of $77.82.

Celestica Price Performance

CLS stock traded up $2.40 during midday trading on Friday, reaching $95.45. 2,057,957 shares of the stock were exchanged, compared to its average volume of 2,281,476. Celestica has a 52 week low of $26.62 and a 52 week high of $100.51. The company has a fifty day moving average price of $79.71 and a 200 day moving average price of $62.14. 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 stock has a market capitalization of $11.11 billion, a PE ratio of 30.30 and a beta of 2.27.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Optimum Investment Advisors increased its position in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Celestica during the 3rd quarter valued at about $30,000. UMB Bank n.a. bought a new stake in Celestica during the 3rd quarter worth approximately $34,000. Private Trust Co. NA raised its stake in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock worth $44,000 after purchasing an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in shares of Celestica in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 67.38% of the company's stock.

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.