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

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

CLS has been the topic of several other research reports. CIBC upped their target price on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Canaccord Genuity Group upped their price objective on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research report on Wednesday, January 31st. StockNews.com downgraded Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. TD Securities upped their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $36.38.

Celestica Trading Down 1.9 %

Shares of CLS stock opened at $43.25 on Monday. The business’s fifty day moving average price is $44.42 and its 200 day moving average price is $34.18. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The firm has a market capitalization of $5.16 billion, a PE ratio of 21.31 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 (NYSE:CLS) (TSE:CLS) last posted 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. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, sell-side analysts forecast that Celestica will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of large investors have recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of Celestica by 4.6% in the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock worth $107,782,000 after purchasing an additional 105,943 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Celestica in the 1st quarter worth about $2,219,000. Elite Wealth Management Inc. purchased a new position in shares of Celestica in the 1st quarter worth about $2,501,000. Wesbanco Bank Inc. acquired a new stake in shares of Celestica in the first quarter valued at about $1,978,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of 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 valued at $3,059,000 after buying an additional 45,508 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.