Independent Advisor Alliance Purchases 8,359 Shares of Celestica Inc. (NYSE:CLS)

Independent Advisor Alliance lifted its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 39.5% in the 3rd quarter, Holdings Channel reports. The fund owned 29,509 shares of the technology company’s stock after buying an additional 8,359 shares during the quarter. Independent Advisor Alliance’s holdings in Celestica were worth $1,508,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CLS. Westover Capital Advisors LLC lifted its holdings in Celestica by 20.9% during the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after purchasing an additional 3,764 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter valued at $61,210,000. Sigma Planning Corp bought a new stake in shares of Celestica during the 3rd quarter valued at $420,000. Advisors Asset Management Inc. lifted its holdings in Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Celestica by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 67,266 shares of the technology company’s stock worth $3,439,000 after purchasing an additional 19,221 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLS. TD Cowen upped their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. UBS Group assumed coverage on shares of Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Finally, Barclays started coverage on Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average price target of $71.45.

Celestica Trading Up 1.2 %

Shares of CLS stock opened at $86.66 on Wednesday. The business has a 50-day moving average price of $65.74 and a two-hundred day moving average price of $57.61. Celestica Inc. has a 12-month low of $25.83 and a 12-month high of $93.15. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market cap of $10.08 billion, a P/E ratio of 27.51 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. During the same quarter in the previous year, the company posted $0.65 EPS. Celestica’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts anticipate that Celestica Inc. will post 3.44 EPS for the current fiscal 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.