Intact Investment Management Inc. acquired a new position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 271,600 shares of the technology company’s stock, valued at approximately $4,181,000. Intact Investment Management Inc. owned about 0.19% of Celestica at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. NorthCoast Asset Management LLC acquired a new stake in shares of Celestica in the second quarter worth $1,885,000. Renaissance Group LLC lifted its position in Celestica by 8.4% in the second quarter. Renaissance Group LLC now owns 29,261 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,278 shares during the period. KCG Holdings Inc. lifted its position in Celestica by 26.2% in the first quarter. KCG Holdings Inc. now owns 24,769 shares of the technology company’s stock worth $360,000 after purchasing an additional 5,137 shares during the period. UBS Group AG lifted its position in Celestica by 34.6% in the first quarter. UBS Group AG now owns 98,357 shares of the technology company’s stock worth $1,429,000 after purchasing an additional 25,257 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Celestica by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 590,017 shares of the technology company’s stock worth $8,573,000 after purchasing an additional 26,062 shares during the period. Institutional investors and hedge funds own 59.60% of the company’s stock.
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Several brokerages recently commented on CLS. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 target price on shares of Celestica in a research report on Friday, October 27th. Royal Bank Of Canada reduced their target price on Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a research report on Friday, October 27th. TD Securities cut their price objective on Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a report on Friday, October 27th. Standpoint Research raised Celestica from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. They noted that the move was a valuation call. Finally, BidaskClub cut Celestica from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Celestica has an average rating of “Hold” and an average target price of $13.93.
Celestica, Inc. (NYSE CLS) opened at 10.00 on Wednesday. The firm’s 50 day moving average price is $12.22 and its 200-day moving average price is $12.92. Celestica, Inc. has a one year low of $9.99 and a one year high of $14.74. The company has a market capitalization of $1.43 billion, a PE ratio of 10.87 and a beta of 0.72.
Celestica announced that its board has initiated a stock repurchase program on Thursday, October 26th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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