Aletheia Capital Issues Positive Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by equities researchers at Aletheia Capital from $330.00 to $410.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the technology company’s stock. Aletheia Capital’s price objective points to a potential upside of 32.88% from the company’s current price.

Other equities analysts have also issued research reports about the company. BMO Capital Markets set a $370.00 target price on Celestica and gave the company an “outperform” rating in a report on Wednesday, October 29th. CIBC boosted their target price on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. TD Securities increased their price target on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, TD Cowen restated a “hold” rating and set a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $340.75.

Celestica Stock Down 1.6%

Shares of CLS stock traded down $5.06 during trading hours on Tuesday, reaching $308.54. 1,210,891 shares of the stock were exchanged, compared to its average volume of 2,231,283. The business’s fifty day moving average is $310.52 and its two-hundred day moving average is $258.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. Celestica has a 12-month low of $58.05 and a 12-month high of $363.40. The firm has a market capitalization of $35.49 billion, a P/E ratio of 50.05 and a beta of 1.87.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, research analysts expect that Celestica will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling at Celestica

In other news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were bought at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the acquisition, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Golden State Wealth Management LLC raised its stake in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after acquiring an additional 37 shares in the last quarter. First Horizon Corp acquired a new position in shares of Celestica in the 3rd quarter valued at approximately $31,000. ST Germain D J Co. Inc. bought a new position in Celestica during the 2nd quarter valued at $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Celestica during the second quarter worth about $40,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.