Celestica (NYSE:CLS) PT Raised to $75.00 at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its target price lifted by analysts at Royal Bank of Canada from $65.00 to $75.00 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 8.10% from the company’s previous close.

CLS has been the topic of a number of other research reports. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, September 9th. CIBC raised their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TD Securities lifted their price objective on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets upped their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Celestica Price Performance

Shares of CLS stock opened at $69.38 on Thursday. The firm has a market cap 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 quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $52.42 and a 200 day moving average price of $52.27.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $0.65 EPS. Celestica’s revenue was up 24.8% on a year-over-year basis. Research analysts expect that Celestica will post 3.22 EPS for the current year.

Institutional Investors Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the stock. Bay Rivers Group increased its holdings in Celestica by 4.2% during the 3rd quarter. Bay Rivers Group now owns 20,338 shares of the technology company’s stock worth $1,040,000 after purchasing an additional 821 shares in the last quarter. FCG Investment Co acquired a new position in shares of Celestica during the third quarter worth about $1,115,000. Financial Management Professionals Inc. bought a new position in shares of Celestica during the third quarter worth about $30,000. Global Trust Asset Management LLC acquired a new stake in Celestica in the 3rd quarter valued at approximately $51,000. Finally, First National Bank of Hutchinson bought a new stake in Celestica in the 3rd quarter valued at approximately $265,000. 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.