World Equity Group Inc. Purchases Shares of 2,429 Celestica Inc. (NYSE:CLS)

World Equity Group Inc. purchased a new stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,429 shares of the technology company’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Whale Rock Capital Management LLC grew its position in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after buying an additional 975,163 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica in the 3rd quarter valued at about $61,210,000. Point72 Asset Management L.P. grew its position in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after buying an additional 301,563 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Celestica by 25.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after buying an additional 109,972 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd grew its position in shares of Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after buying an additional 183,300 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CLS. UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research report on Friday, January 31st. Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada upped their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Celestica Stock Down 7.1 %

Shares of NYSE:CLS opened at $110.75 on Tuesday. The business’s 50 day simple moving average is $111.02 and its two-hundred day simple moving average is $81.10. The firm has a market cap of $12.89 billion, a P/E ratio of 29.61 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27.

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.