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

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by equities research analysts at Royal Bank of Canada from $75.00 to $115.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.06% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus increased their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets raised their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Securities upped their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays started coverage on shares of Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Trading Up 4.4 %

Celestica stock opened at $102.62 on Wednesday. The stock has a 50-day moving average price of $89.10 and a 200 day moving average price of $66.19. Celestica has a 52 week low of $26.62 and a 52 week high of $103.46. The stock has a market cap of $11.94 billion, a PE ratio of 32.58 and a beta of 2.25. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Equities research analysts predict that Celestica will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently modified their holdings of the business. Optimum Investment Advisors raised its stake in shares of Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica in the third quarter valued at about $30,000. UMB Bank n.a. acquired a new stake in Celestica during the third quarter valued at approximately $34,000. Private Trust Co. NA lifted its holdings in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after buying an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Celestica in the 3rd quarter worth approximately $51,000. 67.38% of the stock is owned by hedge funds and other 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.