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

Key Points

• Celestica's price target has been raised from $185.00 to $225.00 by Royal Bank Of Canada, indicating a potential upside of 8.69% from its previous close.
• The company currently holds an average rating of "Moderate Buy" from analysts, with a consensus target price of $151.58.
• Shares of Celestica traded up 2.5% during midday trading, reaching $207.02, with a market capitalization of $23.80 billion.

Celestica (NYSE:CLS - Free Report) TSE: CLS had its price target hoisted by Royal Bank Of Canada from $185.00 to $225.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the technology company's stock.

A number of other equities analysts have also weighed in on CLS. Barclays lifted their price objective on Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday. CIBC dropped their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on Celestica from $115.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Argus dropped their target price on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Citigroup initiated coverage on Celestica in a report on Monday, July 21st. They issued a "neutral" rating and a $172.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $168.92.

Celestica Stock Down 2.4%

Celestica stock traded down $4.81 during mid-day trading on Wednesday, reaching $195.05. 1,607,180 shares of the company were exchanged, compared to its average volume of 4,437,202. The business has a fifty day moving average of $144.61 and a 200 day moving average of $115.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $22.43 billion, a P/E ratio of 42.12 and a beta of 1.81. Celestica has a 12-month low of $40.25 and a 12-month high of $214.47.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently modified their holdings of CLS. LPL Financial LLC grew its stake in shares of Celestica by 48.2% during the fourth quarter. LPL Financial LLC now owns 154,371 shares of the technology company's stock worth $14,248,000 after purchasing an additional 50,190 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Celestica by 3.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 20,906 shares of the technology company's stock worth $1,928,000 after purchasing an additional 678 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Celestica during the fourth quarter worth $26,965,000. Franklin Resources Inc. grew its stake in shares of Celestica by 290.4% during the fourth quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company's stock worth $99,735,000 after purchasing an additional 803,780 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Celestica during the fourth quarter worth $160,000. Institutional investors and hedge funds 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.