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

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

A number of other equities research analysts also recently weighed in on CLS. CIBC reaffirmed a neutral rating and set a $49.00 price objective (up previously from $41.00) on shares of Celestica in a research report on Friday, April 26th. Canaccord Genuity Group raised their price target on Celestica from $48.00 to $53.00 and gave the stock a buy rating in a report on Friday, April 26th. StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. BMO Capital Markets increased their target price on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Celestica from $36.00 to $48.00 and gave the company a hold rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of Moderate Buy and a consensus price target of $42.25.

Celestica Price Performance

Shares of NYSE CLS opened at $43.43 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.21 and a beta of 2.22. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12. The business has a 50 day simple moving average of $44.90 and a 200-day simple moving average of $34.78.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, equities research analysts expect that Celestica will post 2.75 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently bought and sold shares of CLS. WCM Investment Management LLC acquired a new stake in Celestica in the fourth quarter worth approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Celestica by 50.9% in 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 during the period. Shannon River Fund Management LLC bought a new position in Celestica during the third quarter valued at about $41,565,000. Point72 Asset Management L.P. grew its holdings in Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock worth $99,163,000 after acquiring an additional 1,428,071 shares during the period. Finally, Point72 Hong Kong Ltd raised its position in Celestica by 411.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock worth $47,654,000 after acquiring an additional 1,309,257 shares in 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.