Pitcairn Co. Takes $796,000 Position in Celestica Inc. (NYSE:CLS)

Pitcairn Co. acquired a new stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) in the first quarter, HoldingsChannel reports. The firm acquired 17,711 shares of the technology company’s stock, valued at approximately $796,000.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of Celestica in the fourth quarter valued at approximately $42,000. Byrne Asset Management LLC grew its holdings in Celestica by 78.6% in the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after purchasing an additional 550 shares during the period. UMB Bank n.a. purchased a new stake in Celestica in the first quarter valued at approximately $64,000. Blue Trust Inc. grew its holdings in Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after purchasing an additional 1,384 shares during the period. Finally, AJOVista LLC purchased a new stake in Celestica in the fourth quarter valued at approximately $123,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CLS shares. Canaccord Genuity Group upped their price target on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus increased their target price on shares of Celestica from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, May 13th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Finally, BMO Capital Markets increased their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.33.

Celestica Stock Performance

Shares of CLS stock traded down $2.32 during trading hours on Thursday, reaching $51.07. The stock had a trading volume of 6,269,221 shares, compared to its average volume of 2,276,297. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. Celestica Inc. has a twelve month low of $16.28 and a twelve month high of $63.49. The firm has a 50-day simple moving average of $56.62 and a 200-day simple moving average of $46.60. The firm has a market capitalization of $6.07 billion, a PE ratio of 19.41 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts forecast that Celestica Inc. will post 2.88 earnings per share for the current year.

Celestica 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.