BMO Capital Markets Boosts Celestica (NYSE:CLS) Price Target to $48.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective hoisted by BMO Capital Markets from $37.00 to $48.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

CLS has been the topic of a number of other reports. Royal Bank of Canada raised their price target on Celestica from $33.00 to $38.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. TD Securities lifted their target price on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Canaccord Genuity Group lifted their target price on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, CIBC lifted their target price on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $36.38.

Celestica Stock Performance

CLS stock opened at $44.10 on Monday. The company has a market cap of $5.26 billion, a P/E ratio of 21.77 and a beta of 2.22. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The stock’s fifty day moving average price is $44.32 and its 200-day moving average price is $34.11.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. On average, equities analysts forecast that Celestica will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC bought a new stake in Celestica during the third quarter valued at about $32,000. Principal Securities Inc. bought a new stake in Celestica during the fourth quarter valued at about $42,000. Byrne Asset Management LLC raised its holdings in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after acquiring an additional 550 shares during the period. Covestor Ltd bought a new stake in Celestica during the third quarter valued at about $68,000. Finally, Blue Trust Inc. raised its holdings in Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after acquiring an additional 1,384 shares during the period. 67.38% of the stock is owned by institutional investors.

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.