Celestica (NYSE:CLS) Given a $305.00 Price Target at TD Securities

TD Securities set a $305.00 price target on Celestica (NYSE:CLS) (TSE:CLS) in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a hold rating on the technology company’s stock.

Other equities analysts also recently issued reports about the company. UBS Group lifted their target price on Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Celestica in a research report on Thursday, September 25th. Zacks Research downgraded shares of Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Aletheia Capital upped their price target on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.75.

Celestica Stock Performance

CLS stock opened at $310.11 on Wednesday. The stock’s 50 day simple moving average is $309.62 and its 200 day simple moving average is $259.99. Celestica has a 12-month low of $58.05 and a 12-month high of $363.40. The firm has a market cap of $35.67 billion, a P/E ratio of 50.34 and a beta of 1.87. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling

In related news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the transaction, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. purchased a new position in Celestica in the second quarter valued at about $328,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Celestica by 406.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after buying an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Celestica during the 2nd quarter valued at about $343,000. Light Street Capital Management LLC bought a new stake in shares of Celestica in the 2nd quarter valued at approximately $26,422,000. Finally, TD Waterhouse Canada Inc. increased its holdings in Celestica by 2.2% in the second quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock worth $22,356,000 after buying an additional 3,221 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.