Celestica (NYSE:CLS) Price Target Raised to $115.00 at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by research analysts at Royal Bank of Canada from $75.00 to $115.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 12.76% from the company’s previous close.

A number of other research firms have also issued reports on CLS. Canaccord Genuity Group lifted their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus lifted their price target on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. TD Securities lifted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.45.

Celestica Trading Up 3.8 %

Shares of NYSE:CLS traded up $3.72 during trading on Wednesday, reaching $101.99. 1,113,336 shares of the stock were exchanged, compared to its average volume of 1,520,242. The firm’s 50-day moving average price is $88.45 and its 200 day moving average price is $65.93. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 32.38 and a beta of 2.25. Celestica has a 12-month low of $26.62 and a 12-month high of $102.48. 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 (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of large investors have recently bought and sold shares of the business. Westover Capital Advisors LLC grew its stake in shares of Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after purchasing an additional 3,764 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Celestica in the 3rd quarter valued at about $61,210,000. Sigma Planning Corp acquired a new position in Celestica during the 3rd quarter valued at about $420,000. Finally, XTX Topco Ltd bought a new stake in shares of Celestica during the 3rd quarter worth about $1,580,000. 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.