Celestica (NYSE:CLS) Given New $140.00 Price Target at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its target price lifted by Royal Bank of Canada from $115.00 to $140.00 in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

CLS has been the topic of several other research reports. TD Securities raised their price target on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group raised their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus boosted their price target on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a report on Friday. Finally, UBS Group started coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.64.

Celestica Stock Up 8.2 %

Celestica stock opened at $123.57 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a one year low of $32.80 and a one year high of $133.66. The company has a 50-day simple moving average of $98.48 and a 200-day simple moving average of $72.18. The firm has a market capitalization of $14.38 billion, a P/E ratio of 33.04 and a beta of 2.25.

Insider Buying and Selling at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently made changes to their positions in CLS. Optimum Investment Advisors raised its stake in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Truist Financial Corp raised its position in Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after buying an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after acquiring an additional 275 shares in the last quarter. UMB Bank n.a. boosted its position in Celestica by 43.6% during the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after acquiring an additional 288 shares during the period. Finally, Peregrine Capital Management LLC purchased a new position in Celestica during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.