Cidel Asset Management Inc. boosted its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 2,210,219 shares of the technology company’s stock after buying an additional 50,000 shares during the period. Celestica accounts for 1.4% of Cidel Asset Management Inc.’s holdings, making the stock its 22nd largest position. Cidel Asset Management Inc.’s holdings in Celestica were worth $29,996,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in CLS. FMR LLC purchased a new position in Celestica during the fourth quarter valued at $153,000. Envestnet Asset Management Inc. boosted its position in Celestica by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock valued at $155,000 after buying an additional 1,508 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new position in Celestica during the first quarter valued at $161,000. AXA purchased a new position in Celestica during the first quarter valued at $212,000. Finally, Capital Insight Partners LLC purchased a new position in Celestica during the first quarter valued at $240,000. Institutional investors and hedge funds own 61.92% of the company’s stock.
Celestica, Inc. (NYSE CLS) opened at 11.54 on Friday. Celestica, Inc. has a one year low of $10.16 and a one year high of $14.74. The stock has a market cap of $1.65 billion, a PE ratio of 12.54 and a beta of 0.66. The stock has a 50 day moving average price of $12.70 and a 200-day moving average price of $13.62.
Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.08. Celestica had a net margin of 2.12% and a return on equity of 13.64%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $0.29 EPS. Celestica’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Celestica, Inc. will post $1.27 earnings per share for the current fiscal year.
Several research firms have weighed in on CLS. BidaskClub cut Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Canaccord Genuity restated a “buy” rating on shares of Celestica in a report on Friday, July 28th. BMO Capital Markets cut their price target on Celestica from $14.50 to $13.40 and set a “market perform” rating for the company in a report on Wednesday, July 26th. Scotiabank restated a “sector perform” rating and set a $15.00 price target on shares of Celestica in a report on Friday, April 21st. Finally, Bank of America Corporation began coverage on Celestica in a report on Thursday, June 15th. They set a “neutral” rating and a $15.50 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.92.
Celestica Company Profile
Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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