RBC Dominion Securities Analysts Give Celestica (NYSE:CLS) a $450.00 Price Target

RBC Dominion Securities set a $450.00 price target on Celestica (NYSE:CLS – Free Report) (TSE:CLS) in a research note published on Friday morning,BayStreet reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other analysts have also recently weighed in on CLS. JPMorgan Chase & Co. upped their price objective on shares of Celestica from $445.00 to $485.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Celestica in a research note on Thursday, October 15th. UBS Group upgraded shares of Celestica from a “neutral” rating to a “buy” rating and lifted their target price for the company from $410.00 to $430.00 in a research note on Monday, August 24th. BWS Financial reissued a “buy” rating on shares of Celestica in a report on Tuesday, July 28th. Finally, TD set a $430.00 price target on Celestica and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Twenty-four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $448.30.

Read Our Latest Research Report on CLS

Celestica Stock Up 0.0%

Shares of NYSE:CLS opened at $260.11 on Friday. The company’s fifty day moving average is $328.54 and its 200-day moving average is $350.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.68 and a current ratio of 1.23. Celestica has a 52 week low of $244.51 and a 52 week high of $474.02. The company has a market capitalization of $29.91 billion, a PE ratio of 27.04 and a beta of 2.01.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.25. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The business had revenue of $4.68 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company posted $1.39 EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. Equities research analysts predict that Celestica will post 10.71 earnings per share for the current fiscal year.

Insider Activity at Celestica

In other Celestica news, President Todd C. Cooper sold 20,118 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the sale, the president owned 73,252 shares of the company’s stock, valued at $26,370,720. This represents a 21.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mandeep Chawla sold 16,117 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $369.32, for a total transaction of $5,952,330.44. Following the completion of the sale, the chief financial officer owned 65,444 shares of the company’s stock, valued at $24,169,778.08. The trade was a 19.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 243,067 shares of company stock valued at $89,200,967 over the last ninety days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently modified their holdings of CLS. Bright Futures Wealth Management LLC. lifted its position in shares of Celestica by 4.0% during the third quarter. Bright Futures Wealth Management LLC. now owns 2,333 shares of the technology company’s stock worth $843,000 after purchasing an additional 90 shares in the last quarter. Steinberganna Wealth Management increased its holdings in shares of Celestica by 0.9% in the third quarter. Steinberganna Wealth Management now owns 6,482 shares of the technology company’s stock valued at $2,343,000 after purchasing an additional 58 shares in the last quarter. Robeco Schweiz AG increased its holdings in shares of Celestica by 76.0% in the third quarter. Robeco Schweiz AG now owns 8,800 shares of the technology company’s stock valued at $3,181,000 after purchasing an additional 3,800 shares in the last quarter. Gibbs Wealth Management bought a new position in Celestica in the 3rd quarter worth approximately $239,000. Finally, Capital Investment Advisors LLC bought a new position in Celestica in the 3rd quarter worth approximately $211,000. 67.38% of the stock is owned by institutional investors.

Celestica Company Profile

(Get Free Report)

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.

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