Polar Asset Management Partners Inc. Acquires New Position in Celestica Inc. (NYSE:CLS)

Polar Asset Management Partners Inc. bought a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,000 shares of the technology company’s stock, valued at approximately $767,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica during the third quarter worth $61,210,000. Dimensional Fund Advisors LP grew its stake in shares of Celestica by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after purchasing an additional 1,158,823 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Celestica by 0.8% in the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock worth $68,470,000 after purchasing an additional 9,462 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after purchasing an additional 109,972 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

CLS has been the topic of several analyst reports. BMO Capital Markets boosted their price objective 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. Stifel Nicolaus upped their price objective on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. TD Cowen upped their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Barclays began coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.45.

Celestica Stock Up 3.0 %

Celestica stock opened at $94.87 on Friday. Celestica Inc. has a twelve month low of $26.00 and a twelve month high of $96.00. The firm has a 50 day moving average price of $72.61 and a 200-day moving average price of $59.85. The company has a market capitalization of $11.04 billion, a P/E ratio of 30.12 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. Celestica’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. As a group, equities analysts predict 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.