Pier Capital LLC Grows Position in Celestica Inc. (NYSE:CLS)

Pier Capital LLC grew its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,055 shares of the technology company’s stock after buying an additional 335 shares during the quarter. Pier Capital LLC owned approximately 0.08% of Celestica worth $4,757,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CLS. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica during the 3rd quarter valued at approximately $61,210,000. Driehaus Capital Management LLC lifted its holdings in Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares in the last quarter. Whale Rock Capital Management LLC boosted its position 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. Point72 Asset Management L.P. boosted its position in shares of 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 worth $55,451,000 after purchasing an additional 301,563 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Celestica by 1,697.3% in the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after purchasing an additional 220,494 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CLS. Stifel Nicolaus lifted their target price on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. BMO Capital Markets upped their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada lifted their target price on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen boosted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group began coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.45.

Celestica Trading Up 3.0 %

CLS opened at $94.86 on Friday. Celestica Inc. has a 12 month low of $26.00 and a 12 month high of $96.00. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $72.61 and a 200 day moving average of $59.90. The firm has a market cap of $11.04 billion, a P/E ratio of 30.11 and a beta of 2.27.

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

Celestica 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.