BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 9,416 Shares of Celestica Inc. (NYSE:CLS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,456 shares of the technology company’s stock after selling 9,416 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Celestica were worth $2,937,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its position in Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares in the last quarter. Optimum Investment Advisors increased its position 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 during the period. Truist Financial Corp increased its holdings in Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after buying an additional 336 shares during the period. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Securities upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. Finally, UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus price target of $71.45.

Celestica Trading Up 5.3 %

Shares of Celestica stock opened at $89.44 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a fifty day moving average of $70.16 and a 200 day moving average of $59.12. The company has a market capitalization of $10.41 billion, a P/E ratio of 28.39 and a beta of 2.27. Celestica Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $93.15.

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 the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate 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.