Royal Bank of Canada Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS) (TSE:CLS) had its price objective upped by stock analysts at Royal Bank of Canada from $115.00 to $140.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 13.30% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Barclays boosted 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. BMO Capital Markets raised their price target on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a report on Friday. Finally, Canaccord Genuity Group raised their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and an average price target of $99.64.

Celestica Price Performance

Shares of NYSE:CLS opened at $123.57 on Friday. The business has a fifty day simple moving average of $98.48 and a 200 day simple moving average of $72.36. 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 has a 1 year low of $32.80 and a 1 year high of $133.66. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 33.04 and a beta of 2.27.

Insider Buying and Selling

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC acquired a new position in Celestica in the fourth quarter valued at approximately $385,000. Quantbot Technologies LP raised its position in shares of Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after acquiring an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter worth $61,210,000. Sigma Planning Corp acquired a new stake in shares of Celestica during the third quarter worth $420,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares during the period. 67.38% of the stock is 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.