Stifel Nicolaus Raises Celestica (NYSE:CLS) Price Target to $8.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by Stifel Nicolaus from $6.00 to $8.00 in a report released on Thursday, BenzingaRatingsTable reports. They currently have a hold rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets reduced their price objective on Celestica from $9.50 to $7.00 and set a market perform rating on the stock in a research note on Thursday, April 30th. Citigroup boosted their price objective on Celestica from $5.00 to $7.50 and gave the stock a sell rating in a research note on Thursday. Canaccord Genuity raised Celestica from a hold rating to a buy rating in a research note on Thursday. ValuEngine cut Celestica from a buy rating to a hold rating in a research note on Friday, May 1st. Finally, Zacks Investment Research cut Celestica from a buy rating to a hold rating in a research note on Monday, June 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $8.35.

Shares of NYSE CLS opened at $8.27 on Thursday. The business’s 50 day moving average is $6.81 and its two-hundred day moving average is $6.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.62 and a quick ratio of 1.03. Celestica has a 1-year low of $2.63 and a 1-year high of $9.29. The stock has a market capitalization of $1.07 billion, a P/E ratio of -413.29, a PEG ratio of 1.01 and a beta of 2.17.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that Celestica will post 0.61 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in Celestica by 3.2% in the second quarter. CIBC Asset Management Inc now owns 75,220 shares of the technology company’s stock worth $515,000 after purchasing an additional 2,303 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Celestica by 4.2% in the second quarter. Janney Montgomery Scott LLC now owns 64,128 shares of the technology company’s stock worth $438,000 after purchasing an additional 2,609 shares in the last quarter. Verus Capital Partners LLC grew its stake in Celestica by 28.3% in the first quarter. Verus Capital Partners LLC now owns 19,816 shares of the technology company’s stock worth $69,000 after purchasing an additional 4,365 shares in the last quarter. US Bancorp DE grew its stake in Celestica by 169.1% in the first quarter. US Bancorp DE now owns 7,735 shares of the technology company’s stock worth $27,000 after purchasing an additional 4,861 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Celestica by 43.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,776 shares of the technology company’s stock worth $123,000 after purchasing an additional 5,396 shares in the last quarter. 62.59% of the stock is currently owned by institutional investors.

About Celestica

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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