Celestica (NYSE:CLS) Price Target Increased to $53.00 by Analysts at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price objective lifted by Royal Bank of Canada from $47.00 to $53.00 in a research report sent to investors on Sunday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other analysts also recently issued reports on CLS. Canaccord Genuity Group lifted their target price on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday. Stifel Nicolaus lifted their target price on Celestica from $36.00 to $48.00 and gave the company a hold rating in a research note on Friday. CIBC reissued a neutral rating and set a $49.00 target price (up previously from $41.00) on shares of Celestica in a research note on Friday. BMO Capital Markets lifted their target price on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Finally, StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $42.25.

Celestica Stock Up 0.5 %

CLS stock opened at $43.46 on Friday. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.18 billion, a P/E ratio of 16.22 and a beta of 2.22. The business’s 50-day moving average price is $44.57 and its 200-day moving average price is $34.48.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, equities research analysts forecast that Celestica will post 2.59 EPS for the current year.

Institutional Trading of Celestica

Several hedge funds have recently modified their holdings of CLS. WCM Investment Management LLC purchased a new stake in shares of Celestica during the 4th quarter worth approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Celestica by 50.9% during 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 acquiring an additional 2,054,918 shares in the last quarter. Shannon River Fund Management LLC purchased a new stake in Celestica during the 3rd quarter valued at $41,565,000. Point72 Asset Management L.P. raised its holdings in Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after buying an additional 1,428,071 shares during the period. Finally, Point72 Hong Kong Ltd raised its holdings in Celestica by 411.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after buying an additional 1,309,257 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

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.