K.J. Harrison & Partners Inc purchased a new stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the technology company’s stock, valued at approximately $617,000.
Other institutional investors also recently added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in shares of Celestica in the second quarter valued at approximately $140,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Celestica by 5.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock valued at $149,000 after buying an additional 579 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of 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 during the period. AXA boosted its holdings in shares of Celestica by 8.2% in the second quarter. AXA now owns 15,800 shares of the technology company’s stock valued at $215,000 after buying an additional 1,200 shares during the period. Finally, State of Tennessee Treasury Department acquired a new position in shares of Celestica in the second quarter valued at approximately $217,000. Institutional investors own 59.60% of the company’s stock.
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Shares of Celestica, Inc. (CLS) traded down 1.39% during mid-day trading on Wednesday, hitting $9.91. 59,043 shares of the stock were exchanged. The stock has a market capitalization of $1.42 billion, a P/E ratio of 10.77 and a beta of 0.72. Celestica, Inc. has a 12-month low of $9.90 and a 12-month high of $14.74. The stock’s 50 day moving average price is $12.22 and its 200-day moving average price is $12.92.
Celestica declared that its board has initiated a share buyback program on Thursday, October 26th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
CLS has been the topic of a number of research reports. Standpoint Research raised shares of Celestica from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. They noted that the move was a valuation call. Canaccord Genuity reissued a “buy” rating on shares of Celestica in a research report on Friday, July 28th. TD Securities cut their price objective on shares of Celestica from $13.50 to $11.50 and set a “hold” rating on the stock in a research report on Friday, October 27th. BMO Capital Markets cut their price objective on shares of Celestica from $14.50 to $13.40 and set a “market perform” rating on the stock in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada cut their price objective on shares of Celestica from $15.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.93.
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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