Oak Ridge Investments LLC Invests $2.29 Million in Celestica Inc. (NYSE:CLS)

Oak Ridge Investments LLC acquired a new position in Celestica Inc. (NYSE:CLS) (TSE:CLS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,822 shares of the technology company’s stock, valued at approximately $2,291,000.

Other large investors have also added to or reduced their stakes in the company. Optimum Investment Advisors lifted its position in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the third quarter worth about $30,000. UMB Bank n.a. acquired a new position in Celestica during the third quarter valued at approximately $34,000. Private Trust Co. NA grew its stake in 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 purchasing an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Celestica during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

CLS has been the topic of several recent analyst reports. TD Securities boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. 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. Royal Bank of Canada lifted their target price on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Stifel Nicolaus boosted their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, TD Cowen lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.45.

Insider Buying and Selling

In related news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Celestica Stock Performance

Shares of NYSE:CLS opened at $113.20 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12-month low of $27.88 and a 12-month high of $115.52. The company’s 50 day moving average price is $93.15 and its two-hundred day moving average price is $68.61. The firm has a market cap of $13.17 billion, a PE ratio of 35.94 and a beta of 2.25.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Equities research analysts predict that Celestica Inc. will post 3.44 earnings per share for the current 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.