Celestica (NYSE:CLS) Price Target Increased to $53.00 by Analysts at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price objective upped by Royal Bank of Canada from $47.00 to $53.00 in a note issued to investors on Sunday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 21.95% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group upped their price objective on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. TD Securities raised their price objective on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their price objective on shares of Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average price target of $42.25.

Celestica Stock Up 0.5 %

CLS stock opened at $43.46 on Friday. The company has a 50-day moving average of $44.57 and a two-hundred day moving average of $34.42. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.22 and a beta of 2.22. 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 52-week low of $10.50 and a 52-week high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating 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 3.86% and a return on equity of 18.21%. As a group, equities research analysts anticipate that Celestica will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of CLS. WCM Investment Management LLC bought a new position in Celestica in the fourth quarter valued at approximately $67,832,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 acquiring an additional 2,054,918 shares during the last quarter. Shannon River Fund Management LLC bought a new position in Celestica in the third quarter valued at approximately $41,565,000. Point72 Asset Management L.P. boosted its stake in Celestica by 72.9% in the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake 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 valued at $47,654,000 after acquiring an additional 1,309,257 shares during the last quarter. 67.38% of the stock is owned by 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.