Celestica Inc. (NYSE:CLS) Receives $66.67 Average Target Price from Analysts

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS have been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $66.67.

A number of brokerages recently issued reports on CLS. Royal Bank of Canada lifted their target price on Celestica from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. TD Cowen lifted their price target 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 Celestica from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. CIBC upped their target price on Celestica from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, Canaccord Genuity Group raised their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, July 26th.

Institutional Trading of Celestica

Several institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors increased its holdings 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 buying an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the 3rd quarter worth approximately $30,000. UMB Bank n.a. acquired a new position in Celestica in the third quarter worth $34,000. Wolff Wiese Magana LLC lifted its position in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company's stock worth $40,000 after buying an additional 170 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in Celestica in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Stock Performance

NYSE:CLS traded down $0.36 during mid-day trading on Tuesday, hitting $69.94. The stock had a trading volume of 2,089,345 shares, compared to its average volume of 2,274,425. The company has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $52.52. Celestica has a 52 week low of $21.89 and a 52 week high of $70.72. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 26.15 and a beta of 2.28. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its earnings results 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. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. Celestica's revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, research analysts expect that Celestica will post 3.22 earnings per share for the current fiscal year.

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.