Franklin Resources Inc. Grows Stake in Celestica Inc. (NYSE:CLS)

Franklin Resources Inc. raised its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,788 shares of the technology company’s stock after purchasing an additional 48,251 shares during the period. Franklin Resources Inc.’s holdings in Celestica were worth $14,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Optimum Investment Advisors increased its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Celestica during the third quarter worth $30,000. UMB Bank n.a. bought a new position in Celestica during the third quarter valued at $34,000. Private Trust Co. NA raised its stake in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Celestica in the third quarter valued at $51,000. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on CLS shares. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday. TD Securities boosted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen increased their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus upped their price objective on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $77.82.

Celestica Price Performance

CLS opened at $95.45 on Friday. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 30.30 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12-month low of $26.62 and a 12-month high of $100.51. The business’s fifty day simple moving average is $80.35 and its 200-day simple moving average is $62.41.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data 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 analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, equities research analysts anticipate that Celestica Inc. will post 3.44 earnings per share 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.