Brokerages Set Celestica Inc. (NYSE:CLS) Price Target at $81.45

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $81.45.

A number of equities research analysts have commented on the company. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Securities boosted 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. Royal Bank of Canada increased their target price on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Stifel Nicolaus boosted their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, TD Cowen increased their price objective 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.

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several hedge funds have recently added to or reduced their stakes in CLS. Optimum Investment Advisors lifted its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Truist Financial Corp raised its stake in Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after buying an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the last quarter. Pier Capital LLC boosted its position in shares of Celestica by 0.4% during the 3rd quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock worth $4,757,000 after acquiring an additional 335 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Celestica by 4.7% in the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

Celestica stock opened at $102.90 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $91.02 and a 200 day moving average price of $67.26. Celestica has a 12-month low of $26.62 and a 12-month high of $104.92. The stock has a market cap of $11.97 billion, a P/E ratio of 32.67 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business 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 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. Sell-side analysts anticipate that Celestica will post 3.44 earnings per share for the current year.

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.