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

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

A number of other equities research analysts have also recently issued reports on the company. CIBC upped their price objective on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research note on Monday. StockNews.com cut Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Canaccord Genuity Group upped their price objective on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, TD Securities upped their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $36.38.

Celestica Trading Up 0.8 %

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

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, analysts anticipate that Celestica will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Celestica during the 3rd quarter worth approximately $1,422,000. Jetstream Capital LLC acquired a new position in shares of Celestica during the 3rd quarter worth approximately $2,452,000. American Century Companies Inc. increased its holdings in shares of Celestica by 82.4% during the 3rd quarter. American Century Companies Inc. now owns 374,693 shares of the technology company’s stock worth $9,170,000 after acquiring an additional 169,277 shares during the last quarter. Vanguard Group Inc. grew its holdings in Celestica by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock valued at $90,831,000 after buying an additional 47,619 shares in the last quarter. Finally, Shell Asset Management Co. grew its holdings in Celestica by 1,604.1% in the 3rd quarter. Shell Asset Management Co. now owns 140,264 shares of the technology company’s stock valued at $3,440,000 after buying an additional 132,033 shares in the last quarter. 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.