Royal Bank of Canada Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS) (TSE:CLS) had its price target upped by Royal Bank of Canada from $75.00 to $115.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the company. Barclays initiated coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target on the stock. TD Securities increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. UBS Group started coverage on shares of Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Finally, BMO Capital Markets raised their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and an average target price of $81.45.

Celestica Trading Up 4.4 %

CLS opened at $102.62 on Wednesday. Celestica has a 12-month low of $26.62 and a 12-month high of $103.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market capitalization of $11.94 billion, a PE ratio of 32.58 and a beta of 2.25. The firm’s fifty day moving average price is $88.45 and its 200 day moving average price is $65.93.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, research analysts expect that Celestica will post 3.44 EPS for the current fiscal year.

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Optimum Investment Advisors boosted its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the third quarter worth approximately $30,000. UMB Bank n.a. acquired a new position in Celestica in the third quarter worth approximately $34,000. Private Trust Co. NA increased its holdings in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Celestica during the 3rd quarter valued at $51,000. 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.