Celestica (NYSE:CLS) Price Target Raised to $115.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by Royal Bank of Canada from $75.00 to $115.00 in a research note published on Wednesday, MarketBeat.com reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently commented on CLS. BMO Capital Markets lifted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Securities lifted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group began coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average target price of $81.45.

Celestica Stock Performance

Shares of NYSE CLS opened at $103.66 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a 50 day moving average price of $89.79 and a 200 day moving average price of $66.44. The stock has a market capitalization of $12.06 billion, a PE ratio of 32.91 and a beta of 2.25. Celestica has a 52 week low of $26.62 and a 52 week high of $104.92.

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

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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 approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

A number of large investors have recently bought and sold shares of the company. Westover Capital Advisors LLC lifted its holdings in shares of Celestica by 20.9% during the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after acquiring an additional 3,764 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter valued at $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica during the 3rd quarter worth $420,000. Finally, XTX Topco Ltd bought a new stake in shares of Celestica during the 3rd quarter worth $1,580,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.