Plato Investment Management Ltd Makes New $188,000 Investment in Celestica Inc. (NYSE:CLS)

Plato Investment Management Ltd bought a new stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,686 shares of the technology company’s stock, valued at approximately $188,000.

Other hedge funds have also made changes to their positions in the company. Cumberland Partners Ltd grew its stake in Celestica by 83.1% in the 3rd quarter. Cumberland Partners Ltd now owns 10,800 shares of the technology company’s stock valued at $553,000 after acquiring an additional 4,900 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Celestica in the third quarter valued at about $2,234,000. Nations Financial Group Inc. IA ADV grew its position in shares of Celestica by 20.5% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,455 shares of the technology company’s stock valued at $790,000 after purchasing an additional 2,625 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Celestica during the 3rd quarter worth approximately $420,000. Finally, Covestor Ltd acquired a new position in shares of Celestica during the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Trading Up 2.1 %

Shares of CLS stock opened at $82.13 on Friday. The firm’s 50-day simple moving average is $60.64 and its 200-day simple moving average is $55.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a 1-year low of $25.83 and a 1-year high of $87.99. The firm has a market cap of $9.74 billion, a P/E ratio of 26.07 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly 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. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm posted $0.65 earnings per share. Celestica’s revenue was up 24.8% on a year-over-year basis. As a group, equities analysts forecast that Celestica Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CLS. CIBC increased their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.10.

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.