JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by JPMorgan Chase & Co. from $105.00 to $115.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. TD Securities increased their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lowered their target price on Celestica from $160.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Barclays lowered their target price on Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus raised their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, CIBC lowered their target price on Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.42.

Celestica Stock Down 1.9 %

Shares of Celestica stock opened at $85.36 on Monday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $86.90 and its 200-day simple moving average is $92.58. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 22.82 and a beta of 2.09. Celestica has a twelve month low of $40.25 and a twelve month high of $144.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Equities research analysts forecast that Celestica will post 4.35 earnings per share for the current year.

Insider Buying and Selling

In related news, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the transaction, the president now owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 934,381 shares of company stock valued at $116,673,769. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently bought and sold shares of CLS. Rothschild Investment LLC purchased a new position in Celestica during the 1st quarter valued at about $26,000. ORG Partners LLC purchased a new position in Celestica during the 1st quarter valued at about $29,000. Peregrine Capital Management LLC purchased a new position in Celestica during the 4th quarter valued at about $30,000. Center for Financial Planning Inc. purchased a new position in Celestica during the 1st quarter valued at about $30,000. Finally, Pinpoint Asset Management Ltd grew its stake in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other 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.