Celestica (NYSE:CLS) PT Raised to $47.00 at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by research analysts at Royal Bank of Canada from $38.00 to $47.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 7.43% from the company’s current price.

A number of other brokerages have also recently weighed in on CLS. TD Securities upped their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. CIBC upped their target price on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. BMO Capital Markets raised their target price on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.38.

Celestica Stock Performance

NYSE CLS opened at $43.75 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The firm has a market capitalization of $5.22 billion, a P/E ratio of 21.65 and a beta of 2.22. The business’s 50-day simple moving average is $44.20 and its 200-day simple moving average is $33.99.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Equities analysts predict that Celestica will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Wesbanco Bank Inc. acquired a new position in Celestica during the 1st quarter worth $1,978,000. Raymond James Financial Services Advisors Inc. grew its stake in Celestica by 201.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 68,062 shares of the technology company’s stock worth $3,059,000 after purchasing an additional 45,508 shares in the last quarter. Paradiem LLC increased its holdings in Celestica by 4.3% in the first quarter. Paradiem LLC now owns 94,610 shares of the technology company’s stock valued at $4,252,000 after buying an additional 3,925 shares during the last quarter. Byrne Asset Management LLC raised its stake 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 buying an additional 550 shares in the last quarter. Finally, Bay Rivers Group bought a new position in Celestica during the first quarter worth $860,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.