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

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

A number of other brokerages also recently issued reports on CLS. UBS Group began coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Securities boosted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Trading Up 1.2 %

NYSE CLS opened at $103.66 on Wednesday. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 32.91 and a beta of 2.25. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average is $89.79 and its 200 day moving average is $66.44. Celestica has a twelve month low of $26.62 and a twelve month high of $104.92.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share 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 analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. Celestica’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts expect that Celestica will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Wilson sold 25,000 shares of Celestica 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 transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC increased its holdings in shares of Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Celestica in the 3rd quarter worth about $61,210,000. Dimensional Fund Advisors LP increased its stake in Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after acquiring an additional 52,807 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Celestica by 19,876.9% in 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 acquiring an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Celestica by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after acquiring an additional 9,462 shares during the last quarter. Institutional investors 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.