Guardian Capital Advisors LP Lowers Stock Position in Celestica Inc. (NYSE:CLS)

Guardian Capital Advisors LP cut its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 33.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,850 shares of the technology company’s stock after selling 2,920 shares during the quarter. Guardian Capital Advisors LP’s holdings in Celestica were worth $264,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CLS. WCM Investment Management LLC acquired a new position in shares of Celestica during the 4th quarter valued at $67,832,000. Point72 Asset Management L.P. lifted its holdings in shares of Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after acquiring an additional 1,428,071 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Celestica by 411.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after acquiring an additional 1,309,257 shares in the last quarter. Norges Bank acquired a new position in shares of Celestica during the 4th quarter valued at $26,755,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after acquiring an additional 562,157 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group lifted their target price on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. StockNews.com upgraded shares of Celestica from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, Fox Advisors began coverage on shares of Celestica in a report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.44.

Celestica Stock Up 3.1 %

CLS stock traded up $1.60 during trading on Friday, reaching $52.67. The stock had a trading volume of 3,249,009 shares, compared to its average volume of 2,098,166. The company has a market capitalization of $6.26 billion, a P/E ratio of 19.66 and a beta of 2.31. The firm has a fifty day moving average price of $56.61 and a 200 day moving average price of $46.80. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. Celestica Inc. has a 1-year low of $17.73 and a 1-year high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 20.14%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. On average, equities analysts anticipate that Celestica Inc. will post 2.88 earnings per share for the current year.

Celestica Company 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.