Celestica (NYSE:CLS) Given New $47.00 Price Target at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by Royal Bank of Canada from $38.00 to $47.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the technology company’s stock.

A number of other research firms also recently weighed in on CLS. TD Securities boosted their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. BMO Capital Markets boosted their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research note on Monday. CIBC boosted their price target on shares of Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group boosted their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $36.38.

Celestica Trading Up 5.5 %

Shares of NYSE CLS opened at $42.98 on Monday. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The company has a market cap of $5.13 billion, a PE ratio of 21.17 and a beta of 2.22. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $44.10 and a two-hundred day moving average of $33.87.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. As a group, equities analysts expect that Celestica will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celestica

Several large investors have recently bought and sold shares of CLS. SG Americas Securities LLC bought a new stake in Celestica in the third quarter valued at approximately $318,000. Carolina Wealth Advisors LLC increased its stake in Celestica by 6.5% in the third quarter. Carolina Wealth Advisors LLC now owns 45,587 shares of the technology company’s stock valued at $1,118,000 after purchasing an additional 2,800 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Celestica in the third quarter valued at approximately $285,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Celestica in the third quarter valued at approximately $1,191,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Celestica by 29.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock valued at $626,000 after buying an additional 5,758 shares during the period. 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.