Celestica (NYSE:CLS) Price Target Raised to $140.00 at Royal Bank of Canada

Celestica (NYSE:CLS) (TSE:CLS) had its price target increased by equities researchers at Royal Bank of Canada from $115.00 to $140.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.20% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. TD Cowen increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Securities boosted their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays lifted their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus raised their target price on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $99.64.

Celestica Stock Up 11.3 %

Celestica stock traded up $12.89 during midday trading on Friday, hitting $127.04. 7,467,860 shares of the company were exchanged, compared to its average volume of 4,558,045. Celestica has a fifty-two week low of $32.80 and a fifty-two week high of $133.66. 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 company has a market cap of $14.78 billion, a PE ratio of 34.01 and a beta of 2.25. The company’s fifty day moving average price is $97.80 and its 200-day moving average price is $71.75.

Insider Activity at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 1,784 shares in the company, valued at $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 SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently modified their holdings of the company. Whale Rock Capital Management LLC raised its holdings in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica in the third quarter valued at about $61,210,000. Point72 Asset Management L.P. grew its position in Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Celestica by 25.8% during the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after buying an additional 109,972 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd raised its position in Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after purchasing an additional 183,300 shares during the last quarter. 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.