Canaccord Genuity Group Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by research analysts at Canaccord Genuity Group from $77.00 to $110.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 13.71% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. TD Securities increased their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada lifted their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays started coverage on Celestica in a report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.82.

Celestica Trading Up 4.0 %

NYSE:CLS traded up $3.69 on Friday, reaching $96.74. The company’s stock had a trading volume of 1,341,328 shares, compared to its average volume of 2,278,485. Celestica has a 12-month low of $26.62 and a 12-month high of $100.51. The stock has a 50 day moving average price of $79.71 and a 200 day moving average price of $62.14. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 30.71 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities analysts anticipate that Celestica will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Optimum Investment Advisors raised its holdings in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Truist Financial Corp boosted its position in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after acquiring an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares during the last quarter. Pier Capital LLC lifted its stake in shares of Celestica by 0.4% in the third quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after buying an additional 335 shares during the period. Finally, Creative Planning increased its stake in Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after acquiring an additional 336 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.