Royal Bank of Canada Grows Position in Celestica, Inc. $CLS

Key Points

• Royal Bank of Canada increased its stake in Celestica, Inc. by 1.5%, acquiring an additional 19,391 shares to hold approximately 1.11% of the company, valued at $100.9 million.
• Celestica reported $1.39 earnings per share for the last quarter, exceeding estimates, along with revenue of $2.89 billion, marking a 21% year-over-year increase.
• Brokerages have raised price targets for Celestica, with Barclays increasing their target to $220 and Canaccord Genuity to $240, reflecting growing confidence in the company's prospects.

Royal Bank of Canada raised its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,280,563 shares of the technology company's stock after acquiring an additional 19,391 shares during the quarter. Royal Bank of Canada owned approximately 1.11% of Celestica worth $100,922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rothschild Investment LLC acquired a new position in shares of Celestica during the 1st quarter worth about $26,000. ORG Partners LLC acquired a new stake in shares of Celestica in the 1st quarter valued at about $29,000. Center for Financial Planning Inc. acquired a new stake in shares of Celestica in the 1st quarter valued at about $30,000. Farther Finance Advisors LLC boosted its position in shares of Celestica by 1,516.7% in the 1st quarter. Farther Finance Advisors LLC now owns 679 shares of the technology company's stock valued at $54,000 after purchasing an additional 637 shares during the period. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Celestica by 8,910.0% in the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 901 shares of the technology company's stock valued at $71,000 after purchasing an additional 891 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLS. Citigroup upped their target price on Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Canaccord Genuity Group upped their target price on Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. BNP Paribas raised Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. upped their target price on Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, CICC Research initiated coverage on Celestica in a research note on Tuesday, August 19th. They set an "outperform" rating for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $168.92.

Celestica Stock Performance

Shares of CLS stock traded up $21.49 during trading hours on Friday, reaching $242.83. 7,692,106 shares of the company's stock were exchanged, compared to its average volume of 2,812,783. The company has a market cap of $27.93 billion, a P/E ratio of 52.56 and a beta of 1.89. The company's 50 day moving average is $183.98 and its two-hundred day moving average is $130.45. Celestica, Inc. has a 1 year low of $40.65 and a 1 year high of $257.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Celestica had a return on equity of 28.23% and a net margin of 5.11%.The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.91 EPS. The company's revenue for the quarter was up 21.0% on a year-over-year basis. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. Equities research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

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.