Royal Bank of Canada Increases Celestica (NYSE:CLS) Price Target to $53.00

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price objective raised by investment analysts at Royal Bank of Canada from $47.00 to $53.00 in a report released on Sunday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's target price points to a potential upside of 21.95% from the company's current price.

A number of other analysts also recently issued reports on the stock. TD Securities boosted their price objective on shares of Celestica from $33.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. StockNews.com cut Celestica from a "buy" rating to a "hold" rating in a research note on Wednesday, February 28th. Stifel Nicolaus increased their price target on Celestica from $36.00 to $48.00 and gave the stock a "hold" rating in a research report on Friday. Canaccord Genuity Group lifted their price objective on Celestica from $48.00 to $53.00 and gave the company a "buy" rating in a report on Friday. Finally, CIBC reiterated a "neutral" rating and set a $49.00 target price (up from $41.00) on shares of Celestica in a research report on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.25.

Celestica Stock Performance

Shares of CLS stock traded up $0.21 during midday trading on Friday, hitting $43.46. 3,271,523 shares of the company were exchanged, compared to its average volume of 2,323,659. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The firm has a market capitalization of $5.18 billion, a P/E ratio of 16.22 and a beta of 2.22. The firm's 50 day moving average price is $44.57 and its two-hundred day moving average price is $34.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.21%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. As a group, equities research analysts anticipate that Celestica will post 2.59 earnings per share for the current year.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently modified their holdings of the business. K.J. Harrison & Partners Inc bought a new stake in shares of Celestica during the 1st quarter worth $1,123,000. Triasima Portfolio Management inc. bought a new stake in shares of Celestica during the 1st quarter worth $12,742,000. UMB Bank n.a. bought a new stake in shares of Celestica during the 1st quarter worth $64,000. Legacy Bridge LLC bought a new stake in shares of Celestica during the 1st quarter worth $824,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Celestica during the 1st quarter worth $759,000. 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.