Celestica Inc. (NYSE:CLS) Position Cut by Tobam

Tobam lessened its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 45.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,205 shares of the technology company’s stock after selling 1,816 shares during the period. Tobam’s holdings in Celestica were worth $113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. acquired a new position in shares of Celestica during the third quarter worth approximately $34,000. Park Avenue Securities LLC acquired a new position in shares of Celestica in the 3rd quarter valued at $734,000. Cim LLC purchased a new position in shares of Celestica in the second quarter worth approximately $1,343,000. Sanctuary Advisors LLC purchased a new position in Celestica during the 2nd quarter worth approximately $2,140,000. Finally, Maven Securities LTD acquired a new position in Celestica during the second quarter valued at $258,000. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 5.5 %

CLS opened at $61.27 on Friday. Celestica Inc. has a 1-year low of $20.87 and a 1-year high of $63.49. The business has a 50 day moving average of $49.88 and a 200-day moving average of $51.22. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 20.09 and a beta of 2.28. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celestica Inc. will post 3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. TD Securities increased their price objective on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, September 9th. CIBC increased their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $61.88.

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.