BMO Capital Markets Boosts Celestica (NYSE:CLS) Price Target to $8.50

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by BMO Capital Markets from $7.00 to $8.50 in a research report released on Thursday, The Fly reports. The brokerage currently has a market perform rating on the technology company’s stock.

Several other research firms have also recently weighed in on CLS. Canaccord Genuity raised Celestica from a hold rating to a buy rating in a report on Thursday. Citigroup increased their price objective on Celestica from $5.00 to $7.50 and gave the company a sell rating in a research report on Thursday. ValuEngine lowered Celestica from a buy rating to a hold rating in a research report on Friday, May 1st. Stifel Nicolaus increased their price objective on Celestica from $6.00 to $8.00 and gave the company a hold rating in a research report on Thursday. Finally, Pi Financial reiterated a buy rating and set a $11.40 price objective on shares of Celestica in a research report on Monday, July 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Celestica currently has an average rating of Hold and an average target price of $8.35.

NYSE:CLS opened at $8.27 on Thursday. The business’s 50-day moving average price is $6.81 and its two-hundred day moving average price is $6.36. Celestica has a twelve month low of $2.63 and a twelve month high of $9.29. The stock has a market cap of $1.07 billion, a P/E ratio of -413.29, a PEG ratio of 1.01 and a beta of 2.17. The company has a quick ratio of 1.03, a current ratio of 1.62 and a debt-to-equity ratio of 0.36.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.10. Celestica had a positive return on equity of 5.10% and a negative net margin of 0.07%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm posted $0.12 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Celestica will post 0.61 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc grew its position in Celestica by 3.2% during the 2nd quarter. CIBC Asset Management Inc now owns 75,220 shares of the technology company’s stock worth $515,000 after acquiring an additional 2,303 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Celestica by 4.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 64,128 shares of the technology company’s stock worth $438,000 after acquiring an additional 2,609 shares during the last quarter. Verus Capital Partners LLC grew its position in Celestica by 28.3% during the 1st quarter. Verus Capital Partners LLC now owns 19,816 shares of the technology company’s stock worth $69,000 after acquiring an additional 4,365 shares during the last quarter. US Bancorp DE grew its position in Celestica by 169.1% during the 1st quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock worth $27,000 after acquiring an additional 4,861 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Celestica by 43.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,776 shares of the technology company’s stock worth $123,000 after acquiring an additional 5,396 shares during the last quarter. Institutional investors and hedge funds own 62.59% of the company’s stock.

Celestica Company Profile

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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