Celestica (NYSE:CLS) Price Target Raised to $70.00 at TD Cowen

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by TD Cowen from $68.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

CLS has been the topic of several other research reports. Canaccord Genuity Group lifted their price target on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Securities boosted their target price on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. CIBC raised their price target on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets raised their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica Price Performance

CLS stock traded up $1.46 during midday trading on Thursday, reaching $69.40. The company had a trading volume of 1,055,182 shares, compared to its average volume of 2,258,872. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 25.34 and a beta of 2.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. Celestica has a 1-year low of $20.87 and a 1-year high of $70.07. The stock has a 50 day moving average price of $52.13 and a 200-day moving average price of $52.13.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. Equities research analysts expect that Celestica will post 3.22 earnings per share for the current year.

Institutional Trading of Celestica

Several institutional investors have recently modified their holdings of the business. Optimum Investment Advisors raised its position in 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. Financial Management Professionals Inc. acquired a new stake in shares of Celestica in the third quarter valued at about $30,000. UMB Bank n.a. bought a new position in shares of Celestica during the third quarter worth about $34,000. Wolff Wiese Magana LLC lifted its stake in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in Celestica in the third quarter valued at approximately $51,000. 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.