Celestica (NYSE:CLS) PT Raised to $47.00

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price objective boosted by equities researchers at Royal Bank of Canada from $38.00 to $47.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's target price indicates a potential upside of 9.35% from the company's current price.

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

Celestica Price Performance

Celestica stock traded up $2.25 during mid-day trading on Monday, hitting $42.98. 2,382,789 shares of the company were exchanged, compared to its average volume of 2,208,600. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The business's 50 day simple moving average is $44.10 and its two-hundred day simple moving average is $33.87. The company has a market capitalization of $5.13 billion, a P/E ratio of 21.17 and a beta of 2.22. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. Analysts forecast that Celestica will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC acquired a new stake in shares of Celestica during the third quarter worth approximately $32,000. Principal Securities Inc. acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $42,000. Covestor Ltd acquired a new stake in Celestica during the 3rd quarter worth $68,000. Blue Trust Inc. grew its holdings in Celestica by 128.6% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company's stock worth $72,000 after acquiring an additional 1,384 shares during the period. Finally, AJOVista LLC acquired a new stake in Celestica during the 4th quarter worth $123,000. Institutional investors own 67.38% of the company's stock.

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.