Celestica (NYSE:CLS) Price Target Increased to $53.00 by Analysts at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price target lifted by equities researchers at Royal Bank of Canada from $47.00 to $53.00 in a research report issued on Sunday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 21.95% from the stock’s current price.

A number of other research firms have also recently issued reports on CLS. TD Securities upped their price objective on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upped their price objective on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Stifel Nicolaus upped their price objective on shares of Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday. Finally, CIBC reiterated a “neutral” rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a research report on Friday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.25.

Celestica Price Performance

Shares of NYSE:CLS opened at $43.46 on Friday. The firm has a 50 day moving average of $44.57 and a 200-day moving average of $34.42. The stock has a market capitalization of $5.18 billion, a PE ratio of 16.22 and a beta of 2.22. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. Celestica has a 12 month low of $10.50 and a 12 month high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a net margin of 3.86% and a return on equity of 18.21%. On average, equities research analysts predict that Celestica will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in CLS. Clearstead Advisors LLC bought a new stake in shares of Celestica in the 3rd quarter valued at $32,000. Principal Securities Inc. acquired a new stake in shares of Celestica during the fourth quarter worth $42,000. Byrne Asset Management LLC increased its position in shares of Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after buying an additional 550 shares during the period. UMB Bank n.a. acquired a new stake in shares of Celestica during the first quarter worth $64,000. Finally, Covestor Ltd acquired a new stake in shares of Celestica during the third quarter worth $68,000. 67.38% of the stock is owned by 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.