JPMorgan Chase & Co. Issues Positive Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $115.00 to $170.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 5.12% from the stock's current price.

CLS has been the topic of a number of other reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $120.00 target price on shares of Celestica in a research note on Monday, April 28th. CIBC lowered their price objective on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen cut Celestica from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $146.00 price objective (up from $126.00) on shares of Celestica in a research report on Tuesday, June 10th. Finally, Argus lowered their target price on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $121.64.

Celestica Trading Up 1.0%

Shares of CLS stock traded up $1.62 during trading hours on Thursday, hitting $161.72. The company had a trading volume of 1,573,803 shares, compared to its average volume of 3,408,948. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 0.85. Celestica has a fifty-two week low of $40.25 and a fifty-two week high of $165.83. The stock has a market capitalization of $18.60 billion, a PE ratio of 44.58 and a beta of 1.81. The company's fifty day moving average is $131.67 and its 200 day moving average is $110.15.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) 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 analyst estimates of $2.56 billion. Celestica had a net margin of 4.26% and a return on equity of 25.57%. The business's revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. Research analysts expect that Celestica will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in Celestica by 90.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,723 shares of the technology company's stock valued at $3,482,000 after purchasing an additional 17,958 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Celestica by 8.7% during the fourth quarter. Corient Private Wealth LLC now owns 8,150 shares of the technology company's stock valued at $752,000 after purchasing an additional 650 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Celestica in the 4th quarter valued at approximately $2,797,000. Advisors Asset Management Inc. lifted its holdings in Celestica by 60.8% during the 4th quarter. Advisors Asset Management Inc. now owns 52,890 shares of the technology company's stock worth $4,882,000 after purchasing an additional 19,989 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of Celestica by 53.3% in the fourth quarter. Whittier Trust Co. now owns 12,059 shares of the technology company's stock valued at $1,113,000 after acquiring an additional 4,192 shares during the period. 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.

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