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

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

Several other brokerages have also weighed in on CLS. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research report on Friday. Stifel Nicolaus lifted their price objective on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays increased their target price on shares of Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Finally, TD Cowen increased their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.64.

Celestica Stock Performance

Shares of CLS stock opened at $123.57 on Friday. The firm has a market cap of $14.38 billion, a P/E ratio of 33.04 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a fifty-two week low of $32.80 and a fifty-two week high of $133.66. The stock’s 50-day moving average is $98.48 and its two-hundred day moving average is $72.18.

Insider Buying and Selling

In other Celestica news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Whale Rock Capital Management LLC increased its holdings in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after buying an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Celestica during the 3rd quarter valued at about $61,210,000. Point72 Asset Management L.P. increased its stake in Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares during the period. Westfield Capital Management Co. LP raised its position in Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after purchasing an additional 109,972 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd raised its position in Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after purchasing an additional 183,300 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.