Royal Bank of Canada Raises Celestica (NYSE:CLS) Price Target to $47.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective boosted by Royal Bank of Canada from $38.00 to $47.00 in a report published on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the technology company’s stock.

CLS has been the subject of a number of other reports. BMO Capital Markets increased their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday. CIBC increased their price objective on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. TD Securities increased their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Canaccord Genuity Group increased their price objective on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Finally, StockNews.com downgraded Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Celestica has an average rating of Moderate Buy and an average target price of $36.38.

Celestica Price Performance

NYSE CLS opened at $44.10 on Monday. The company has a 50 day simple moving average of $44.32 and a 200-day simple moving average of $34.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. Equities research analysts predict that Celestica will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP grew its holdings in Celestica by 0.6% during the third quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock valued at $2,170,000 after purchasing an additional 502 shares during the last quarter. Byrne Asset Management LLC grew its holdings in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after purchasing an additional 550 shares during the last quarter. Guardian Capital Advisors LP grew its holdings in Celestica by 8.5% during the fourth quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after purchasing an additional 685 shares during the last quarter. Clearstead Advisors LLC acquired a new position in Celestica during the third quarter valued at approximately $32,000. Finally, Blue Trust Inc. grew its stake in shares of Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.