Celestica (NYSE:CLS) Given New $70.00 Price Target at Stifel Nicolaus

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by Stifel Nicolaus from $58.00 to $70.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 0.89% from the company’s previous close.

CLS has been the topic of several other research reports. Royal Bank of Canada lifted their price target on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. TD Securities boosted their price target on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. CIBC increased their price target on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica Price Performance

CLS stock opened at $69.38 on Thursday. 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 firm’s 50-day moving average price is $52.42 and its two-hundred day moving average price is $52.27. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 25.89 and a beta of 2.28. Celestica has a 12-month low of $20.87 and a 12-month high of $70.07.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the company posted $0.65 EPS. Celestica’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts predict that Celestica will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Westover Capital Advisors LLC grew its stake in shares of Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after acquiring an additional 3,764 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in Celestica in the 1st quarter worth about $3,248,000. BNP Paribas Financial Markets grew its position in Celestica by 62.9% during the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after purchasing an additional 210,943 shares during the last quarter. Rockingstone Advisors LLC bought a new stake in Celestica during the 2nd quarter valued at about $2,442,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Celestica in the first quarter worth approximately $1,231,000. Institutional investors 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.