Royal Bank of Canada Raises Celestica (NYSE:CLS) Price Target to $53.00

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

A number of other research analysts also recently commented on the company. StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Stifel Nicolaus upped their price target on shares of Celestica from $36.00 to $48.00 and gave the stock a hold rating in a research report on Friday, April 26th. CIBC reiterated a neutral rating and issued a $49.00 price objective (up from $41.00) on shares of Celestica in a research report on Friday, April 26th. Canaccord Genuity Group upped their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a research report on Friday, April 26th. Finally, TD Securities lifted their price target on Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $42.25.

Celestica Trading Down 1.6 %

NYSE CLS opened at $43.33 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. Celestica has a one year low of $10.50 and a one year high of $51.12. The company has a 50-day simple moving average of $44.77 and a 200-day simple moving average of $34.72. The firm has a market capitalization of $5.17 billion, a PE ratio of 16.17 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. On average, equities analysts forecast that Celestica will post 2.59 earnings per share for the current year.

Institutional Trading of Celestica

A number of institutional investors have recently made changes to their positions in CLS. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Celestica by 50.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock valued at $149,153,000 after buying an additional 2,054,918 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after purchasing an additional 562,157 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of 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 purchasing an additional 1,428,071 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of Celestica by 4.6% in the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock worth $107,782,000 after purchasing an additional 105,943 shares during the last quarter. Finally, Shannon River Fund Management LLC bought a new stake in shares of Celestica in the 3rd quarter worth approximately $41,565,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.