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

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by BMO Capital Markets from $37.00 to $48.00 in a report released on Monday morning, MarketBeat.com reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group upped their price target on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a report on Wednesday, January 31st. TD Securities upped their price target on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. StockNews.com cut Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada upped their price target on Celestica from $33.00 to $38.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $36.38.

Celestica Stock Performance

Shares of CLS stock opened at $42.98 on Monday. The stock has a market cap of $5.13 billion, a PE ratio of 21.17 and a beta of 2.22. The business has a 50-day simple moving average of $44.10 and a 200-day simple moving average of $33.87. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12.

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

Institutional Investors Weigh In On Celestica

Several large investors have recently bought and sold shares of CLS. WCM Investment Management LLC purchased a new stake in Celestica during the 4th quarter worth approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after buying an additional 2,054,918 shares in the last quarter. Shannon River Fund Management LLC purchased a new stake in Celestica during the 3rd quarter worth approximately $41,565,000. Point72 Asset Management L.P. increased its stake in Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after buying an additional 1,428,071 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its position in shares of Celestica by 411.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after purchasing an additional 1,309,257 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.