Celestica Inc. (NYSE:CLS) Holdings Reduced by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 51.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,005 shares of the technology company’s stock after selling 13,918 shares during the period. Pitcairn Co.’s holdings in Celestica were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors boosted its holdings in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Celestica during the 3rd quarter valued at $30,000. UMB Bank n.a. acquired a new position in shares of Celestica during the 3rd quarter valued at $34,000. Wolff Wiese Magana LLC raised its stake in shares of Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 170 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Celestica in the third quarter valued at $51,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on CLS. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective 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. TD Cowen increased their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. Finally, BMO Capital Markets raised 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.45.

Celestica Stock Down 4.0 %

NYSE:CLS opened at $85.61 on Tuesday. The business’s fifty day moving average price is $64.95 and its 200 day moving average price is $57.35. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 27.64 and a beta of 2.24. 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 1-year low of $25.83 and a 1-year high of $93.15.

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, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. On average, sell-side analysts forecast that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

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.