Celestica (NYSE:CLS) Price Target Raised to $53.00

Celestica (NYSE:CLS) (TSE:CLS) had its price objective raised by Royal Bank of Canada from $47.00 to $53.00 in a research note issued to investors on Sunday morning, BayStreet.CA reports. They currently have an outperform rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. CIBC reaffirmed a neutral rating and set a $49.00 target price (up from $41.00) on shares of Celestica in a research note on Friday, April 26th. Canaccord Genuity Group lifted their price target on shares of Celestica from $48.00 to $53.00 and gave the company a buy rating in a research report on Friday, April 26th. Stifel Nicolaus increased their price objective on Celestica from $36.00 to $48.00 and gave the stock a hold rating in a research report on Friday, April 26th. TD Securities raised their target price on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets lifted their target price on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $42.25.

Celestica Stock Performance

Shares of Celestica stock opened at $43.33 on Friday. The business’s 50 day moving average price is $44.77 and its 200 day moving average price is $34.72. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 16.17 and a beta of 2.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. Celestica has a one year low of $10.50 and a one year high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, research analysts predict that Celestica will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently bought and sold shares of the company. Clearstead Advisors LLC purchased a new stake in Celestica during the third quarter worth about $32,000. Principal Securities Inc. purchased a new stake in Celestica during the 4th quarter worth approximately $42,000. Byrne Asset Management LLC lifted its holdings in Celestica by 78.6% during the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after buying an additional 550 shares in the last quarter. UMB Bank n.a. purchased a new position in Celestica in the 1st quarter valued at approximately $64,000. Finally, Covestor Ltd acquired a new position in shares of Celestica in the third quarter worth $68,000. Institutional investors and hedge funds 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.