Canaccord Genuity Group Raises Celestica (NYSE:CLS) Price Target to $53.00

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price objective increased by stock analysts at Canaccord Genuity Group from $48.00 to $53.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has a "buy" rating on the technology company's stock. Canaccord Genuity Group's price objective would indicate a potential upside of 22.04% from the stock's current price.

A number of other research firms also recently weighed in on CLS. BMO Capital Markets lifted their price objective on Celestica from $37.00 to $48.00 and gave the company an "outperform" rating in a report on Monday. TD Securities lifted their price objective on Celestica from $33.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. StockNews.com downgraded Celestica from a "buy" rating to a "hold" rating in a report on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on Celestica from $36.00 to $48.00 and gave the company a "hold" rating in a report on Friday. Finally, Royal Bank of Canada boosted their target price on Celestica from $38.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Celestica presently has a consensus rating of "Moderate Buy" and an average price target of $41.50.

Celestica Stock Performance

Shares of Celestica stock traded up $0.18 during trading on Friday, reaching $43.43. The company's stock had a trading volume of 3,269,450 shares, compared to its average volume of 2,289,274. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The business's fifty day moving average price is $44.49 and its 200-day moving average price is $34.25. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 16.22 and a beta of 2.22. Celestica has a one year low of $10.50 and a one year high of $51.12.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. As a group, equities research analysts predict that Celestica will post 2.59 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently made changes to their positions in CLS. WCM Investment Management LLC acquired a new position in shares of Celestica in the 4th quarter valued at $67,832,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Celestica by 50.9% in 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 purchasing an additional 2,054,918 shares during the period. Shannon River Fund Management LLC acquired a new position in Celestica in the 3rd quarter worth $41,565,000. Point72 Asset Management L.P. boosted its stake in Celestica by 72.9% in 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 purchasing an additional 1,428,071 shares during the period. Finally, Point72 Hong Kong Ltd boosted its stake in Celestica by 411.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company's stock worth $47,654,000 after purchasing an additional 1,309,257 shares during the period. Institutional investors and hedge funds 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.