Royal Bank of Canada Raises Celestica (NYSE:CLS) Price Target to $75.00

by · The Markets Daily

Celestica (NYSE:CLS – Free Report) (TSE:CLS) had its price target hoisted by Royal Bank of Canada from $65.00 to $75.00 in a research report sent to investors on Thursday, Marketbeat reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research analysts also recently weighed in on CLS. CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets upped their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group increased their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, TD Securities raised their target price on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.67.

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Celestica Trading Up 2.1 %

Celestica stock opened at $69.38 on Thursday. The firm has a 50 day moving average of $52.42 and a 200 day moving average of $52.31. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 25.89 and a beta of 2.28. Celestica has a 12-month low of $20.87 and a 12-month high of $70.07. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, research analysts predict that Celestica will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its stake in Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 170 shares during the period. Optimum Investment Advisors boosted its stake in Celestica by 66.7% during 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 period. Truist Financial Corp boosted its stake in Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the period. Finally, Creative Planning lifted its position in shares of Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after purchasing an additional 336 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

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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.

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