Celestica (NYSE:CLS) Given New $115.00 Price Target at Royal Bank of Canada

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

Several other brokerages also recently commented on CLS. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Cowen raised 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. TD Securities lifted their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays started coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.45.

Celestica Price Performance

Celestica stock traded up $3.72 during mid-day trading on Wednesday, hitting $101.99. The company’s stock had a trading volume of 1,113,336 shares, compared to its average volume of 1,520,242. Celestica has a twelve month low of $26.62 and a twelve month high of $102.48. The stock’s fifty day moving average price is $88.45 and its two-hundred day moving average price is $65.93. The stock has a market capitalization of $11.87 billion, a P/E ratio of 32.38 and a beta of 2.25. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. Celestica’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Research analysts forecast that Celestica will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Several institutional investors and hedge funds have recently modified their holdings of the business. Optimum Investment Advisors lifted its position in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Celestica in the 3rd quarter worth approximately $30,000. UMB Bank n.a. bought a new stake in Celestica during the third quarter worth approximately $34,000. Private Trust Co. NA grew its holdings in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in Celestica during the third quarter valued at approximately $51,000. Institutional investors and hedge funds 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.