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

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by Royal Bank of Canada from $38.00 to $47.00 in a report released on Monday, BayStreet.CA reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts have also recently commented on CLS. StockNews.com cut shares of Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. BMO Capital Markets boosted their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research note on Monday. CIBC boosted their price target on shares of Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. TD Securities boosted their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group boosted their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $36.38.

Celestica Price Performance

Shares of NYSE:CLS opened at $43.25 on Monday. The company has a 50 day moving average of $44.42 and a 200 day moving average of $34.18. The stock has a market cap of $5.16 billion, a P/E ratio of 21.31 and a beta of 2.22. Celestica has a 12 month low of $10.50 and a 12 month high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. As a group, sell-side analysts forecast that Celestica will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently made changes to their positions in CLS. SG Americas Securities LLC purchased a new stake in shares of Celestica in the 3rd quarter valued at $318,000. Carolina Wealth Advisors LLC boosted its stake in shares of Celestica by 6.5% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 45,587 shares of the technology company’s stock valued at $1,118,000 after purchasing an additional 2,800 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Celestica in the 3rd quarter valued at $285,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Celestica in the 3rd quarter valued at $1,191,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Celestica by 29.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock valued at $626,000 after purchasing an additional 5,758 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

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.