Celestica (NYSE:CLS) Given New $115.00 Price Target at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by Royal Bank of Canada from $75.00 to $115.00 in a research note released on Wednesday morning, MarketBeat.com reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price objective on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Securities increased their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group began coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Canaccord Genuity Group upped their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.45.

Celestica Stock Up 4.4 %

CLS opened at $102.62 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 32.58 and a beta of 2.25. Celestica has a one year low of $26.62 and a one year high of $103.46. The business’s fifty day moving average is $88.45 and its two-hundred day moving average is $65.93.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts anticipate that Celestica will post 3.44 EPS for the current fiscal year.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whale Rock Capital Management LLC lifted its position in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica during the third quarter worth $61,210,000. Dimensional Fund Advisors LP boosted its stake in shares of Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock valued at $68,024,000 after purchasing an additional 52,807 shares during the period. Driehaus Capital Management LLC grew its holdings in Celestica by 19,876.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Celestica by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock worth $68,470,000 after buying an additional 9,462 shares in the last quarter. Institutional investors and hedge funds 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.