Caprock Group LLC Cuts Stock Holdings in Celestica Inc. (NYSE:CLS)

Caprock Group LLC cut its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 7.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 38,907 shares of the technology company’s stock after selling 3,249 shares during the quarter. Caprock Group LLC’s holdings in Celestica were worth $3,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CLS. First Affirmative Financial Network purchased a new stake in Celestica during the fourth quarter valued at about $214,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Celestica in the 4th quarter valued at about $369,000. R Squared Ltd purchased a new stake in shares of Celestica during the 4th quarter worth about $51,000. SteelPeak Wealth LLC acquired a new stake in Celestica during the 4th quarter worth approximately $880,000. Finally, Foundations Investment Advisors LLC purchased a new position in Celestica in the fourth quarter valued at approximately $265,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CLS. Stifel Nicolaus boosted their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays increased their price target on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Finally, Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average target price of $99.64.

Celestica Stock Up 8.2 %

Shares of NYSE:CLS opened at $123.57 on Friday. The company’s fifty day moving average is $98.48 and its two-hundred day moving average is $72.18. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 1-year low of $32.80 and a 1-year high of $133.66. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 33.04 and a beta of 2.25.

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.