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

Celestica (NYSE:CLS) (TSE:CLS) had its target price boosted by Royal Bank of Canada from $65.00 to $75.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has an outperform rating on the technology company’s stock.

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

Celestica Stock Performance

Shares of NYSE CLS opened at $69.38 on Thursday. Celestica has a 12-month low of $20.87 and a 12-month high of $70.07. The company has a market cap of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. The stock has a 50 day simple moving average of $52.42 and a 200-day simple moving average of $52.35. 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) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, equities research analysts forecast that Celestica will post 3.22 EPS for the current year.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently bought and sold shares of CLS. Vanguard Group Inc. boosted its holdings in shares of Celestica by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after buying an additional 562,157 shares during the period. Oliver Luxxe Assets LLC acquired a new position in Celestica in the 1st quarter worth approximately $3,248,000. Principal Financial Group Inc. acquired a new stake in Celestica during the 1st quarter valued at $22,669,000. Hartline Investment Corp purchased a new stake in shares of Celestica in the first quarter valued at $494,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Celestica in the first quarter worth $1,231,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.