Brokerages Set Celestica Inc. (NYSE:CLS) Price Target at $33.88

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $33.88.

A number of analysts have recently commented on the company. BMO Capital Markets lifted their target price on Celestica from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group boosted their price target on Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. TD Securities boosted their price target on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, CIBC boosted their price target on Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st.

Celestica Stock Down 1.8 %

CLS opened at $43.80 on Friday. The business’s 50-day simple moving average is $44.06 and its 200-day simple moving average is $33.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. Celestica has a one year low of $10.50 and a one year high of $51.12. The stock has a market capitalization of $5.22 billion, a P/E ratio of 21.58 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Analysts anticipate that Celestica will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in CLS. Clearstead Advisors LLC purchased a new stake in shares of Celestica during the 3rd quarter worth approximately $32,000. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the 3rd quarter worth approximately $34,000. Principal Securities Inc. purchased a new stake in shares of Celestica during the 4th quarter worth approximately $42,000. Blue Trust Inc. boosted its stake in shares of Celestica by 128.6% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,384 shares in the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Celestica during the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

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.