Toronto Dominion Bank Decreases Position in Celestica Inc. (NYSE:CLS)

Toronto Dominion Bank lowered its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 38.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,865 shares of the technology company’s stock after selling 7,383 shares during the quarter. Toronto Dominion Bank’s holdings in Celestica were worth $607,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in Celestica in the second quarter valued at approximately $218,000. Raymond James & Associates grew its holdings in Celestica by 79.7% during the 2nd quarter. Raymond James & Associates now owns 108,930 shares of the technology company’s stock valued at $6,245,000 after purchasing an additional 48,323 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in Celestica by 12.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 15,589 shares of the technology company’s stock valued at $893,000 after purchasing an additional 1,689 shares in the last quarter. Byrne Asset Management LLC increased its stake in Celestica by 52.8% during the 2nd quarter. Byrne Asset Management LLC now owns 1,910 shares of the technology company’s stock worth $109,000 after buying an additional 660 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in Celestica in the 2nd quarter worth $10,491,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLS has been the subject of several recent analyst reports. TD Securities raised 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. Royal Bank of Canada raised their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Barclays initiated coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. Finally, BMO Capital Markets lifted their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Celestica Stock Down 0.2 %

Shares of NYSE:CLS opened at $99.04 on Tuesday. The company’s fifty day moving average is $77.55 and its two-hundred day moving average is $61.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 1-year low of $26.62 and a 1-year high of $100.51. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 31.44 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last released 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. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm 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 business earned $0.65 earnings per share. Celestica’s quarterly revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Celestica Inc. will post 3.44 EPS for the current year.

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.