Celestica (NYSE:CLS) Given New $75.00 Price Target at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its target price upped by equities research analysts at Royal Bank of Canada from $65.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.74% from the company’s previous close.

A number of other equities research analysts have also issued reports on CLS. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TD Securities lifted their price objective on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group raised their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. CIBC increased their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.50.

Celestica Stock Up 16.8 %

Shares of CLS stock traded up $9.65 during trading hours on Thursday, reaching $67.12. The company had a trading volume of 3,512,567 shares, compared to its average volume of 2,245,329. The company has a market capitalization of $7.97 billion, a P/E ratio of 25.30 and a beta of 2.28. The stock’s fifty day simple moving average is $51.89 and its 200 day simple moving average is $52.02. Celestica has a twelve month low of $20.87 and a twelve month high of $67.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. Celestica’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. As a group, sell-side analysts expect that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 170 shares in the last quarter. Optimum Investment Advisors boosted its holdings in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Truist Financial Corp increased its holdings in Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after purchasing an additional 275 shares during the period. Finally, Creative Planning increased its position in shares of Celestica by 4.7% in the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after buying an additional 336 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.