Royal Bank of Canada Grows Stock Holdings in Celestica Inc. (NYSE:CLS)

Royal Bank of Canada lifted its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 23.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,261,172 shares of the technology company's stock after purchasing an additional 236,124 shares during the period. Royal Bank of Canada owned about 1.08% of Celestica worth $116,406,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC bought a new position in shares of Celestica during the fourth quarter valued at about $30,000. Pinpoint Asset Management Ltd boosted its holdings in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after acquiring an additional 182 shares during the period. Bessemer Group Inc. bought a new position in Celestica during the 4th quarter worth approximately $42,000. R Squared Ltd purchased a new position in Celestica in the 4th quarter worth approximately $51,000. Finally, IFP Advisors Inc increased its stake in Celestica by 122.7% in the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock worth $62,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Argus cut their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price target on shares of Celestica in a report on Monday, April 28th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, CIBC reduced their price target on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Celestica Stock Up 3.7%

CLS traded up $4.26 on Thursday, hitting $118.29. The company had a trading volume of 4,069,428 shares, compared to its average volume of 3,238,145. The stock has a fifty day simple moving average of $89.32 and a 200-day simple moving average of $96.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $13.67 billion, a P/E ratio of 31.63 and a beta of 1.65. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. As a group, equities analysts expect that Celestica Inc. will post 4.35 EPS for the current fiscal year.

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.