Celestica (NYSE:CLS) Stock Price Expected to Rise, CIBC Analyst Says

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by CIBC from $315.00 to $400.00 in a research report issued on Wednesday, MarketBeat.com reports. The firm presently has an “outperform” rating on the technology company’s stock. CIBC’s target price points to a potential upside of 17.52% from the company’s current price.

A number of other research analysts have also commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. TD Securities raised their price target on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday. New Street Research set a $400.00 target price on shares of Celestica in a research note on Wednesday. UBS Group raised their target price on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Citigroup raised their target price on shares of Celestica from $172.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.13.

Celestica Price Performance

Shares of NYSE:CLS opened at $340.36 on Wednesday. The firm’s 50 day moving average is $249.70 and its two-hundred day moving average is $177.24. Celestica has a 52 week low of $58.05 and a 52 week high of $355.50. The firm has a market capitalization of $39.15 billion, a P/E ratio of 55.25 and a beta of 1.88. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm earned $1.04 EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. Analysts anticipate that Celestica will post 4.35 earnings per share for the current year.

Insider Activity

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were bought at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its position in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp purchased a new position in Celestica during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC grew its holdings in shares of Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after buying an additional 83 shares in the last quarter. Avion Wealth purchased a new position in shares of Celestica during the third quarter valued at $40,000. Finally, McIlrath & Eck LLC grew its holdings in shares of Celestica by 43.3% during the third quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock valued at $45,000 after buying an additional 55 shares in the last quarter. 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.