Celestica (NYSE:CLS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by analysts at JPMorgan Chase & Co. from $295.00 to $360.00 in a research report issued on Wednesday, Marketbeat reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 5.77% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CLS. TD Cowen restated a “hold” rating and set a $238.00 target price on shares of Celestica in a research report on Friday, October 3rd. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Royal Bank Of Canada boosted their price objective on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday. BNP Paribas reissued an “outperform” rating and set a $300.00 price target on shares of Celestica in a research note on Thursday, September 25th. Finally, The Goldman Sachs Group boosted their price target on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $325.13.

Celestica Stock Performance

CLS stock opened at $340.36 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The company has a 50 day moving average price of $249.70 and a 200 day moving average price of $177.24. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $355.50. The stock has a market capitalization of $39.15 billion, a PE ratio of 55.25 and a beta of 1.88.

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

Insider Activity at Celestica

In other news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the purchase, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Large investors have recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in shares of Celestica by 102.5% in the 2nd 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. MassMutual Private Wealth & Trust FSB increased its position in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares in the last quarter. First Horizon Corp bought a new stake in shares of Celestica in the third quarter worth about $31,000. ST Germain D J Co. Inc. bought a new stake in shares of Celestica in the second quarter worth about $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Celestica in the second quarter worth about $40,000. 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.