Royal Bank of Canada Increases Celestica (NYSE:CLS) Price Target to $63.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price hoisted by Royal Bank of Canada from $53.00 to $63.00 in a research note published on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the technology company’s stock.

Several other analysts have also issued reports on CLS. BMO Capital Markets upped their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research note on Monday, June 17th. Canaccord Genuity Group upped their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a research note on Friday, April 26th. Fox Advisors assumed coverage on shares of Celestica in a research note on Wednesday, May 15th. They issued an overweight rating and a $60.00 target price for the company. Stifel Nicolaus upped their target price on shares of Celestica from $48.00 to $51.00 and gave the stock a hold rating in a research note on Monday, May 13th. Finally, StockNews.com lowered shares of Celestica from a buy rating to a hold rating in a research note on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $48.33.

Celestica Stock Performance

CLS opened at $53.38 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $56.59 and its two-hundred day moving average price is $46.56. Celestica has a 1-year low of $16.25 and a 1-year high of $63.49. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 19.92 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.10 billion. On average, analysts expect that Celestica will post 2.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently added to or reduced their stakes in CLS. Oliver Luxxe Assets LLC purchased a new stake in Celestica during the first quarter valued at about $3,248,000. Dimensional Fund Advisors LP lifted its holdings in Celestica by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock valued at $38,491,000 after purchasing an additional 147,417 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Celestica by 62.9% during the first quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after purchasing an additional 210,943 shares during the last quarter. AJOVista LLC purchased a new stake in Celestica during the fourth quarter valued at about $123,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Celestica during the first quarter valued at about $1,231,000. Institutional investors 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.