Celestica Inc. (NYSE:CLS) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 13.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,872 shares of the technology company’s stock after selling 10,664 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Celestica worth $3,830,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Celestica by 0.8% during the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after acquiring an additional 9,462 shares during the last quarter. Magnetar Financial LLC purchased a new position in Celestica in the 2nd quarter valued at about $359,000. EverSource Wealth Advisors LLC lifted its holdings in Celestica by 560.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,724 shares of the technology company’s stock valued at $195,000 after purchasing an additional 3,160 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Celestica by 18.9% during the 2nd quarter. Sei Investments Co. now owns 48,230 shares of the technology company’s stock worth $2,765,000 after purchasing an additional 7,670 shares during the last quarter. Finally, Elite Wealth Management Inc. raised its position in shares of Celestica by 261.9% in the second quarter. Elite Wealth Management Inc. now owns 201,452 shares of the technology company’s stock valued at $11,549,000 after buying an additional 145,790 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 2.0 %

CLS opened at $51.07 on Friday. Celestica Inc. has a 1 year low of $20.87 and a 1 year high of $63.49. The firm has a 50 day moving average price of $49.64 and a 200 day moving average price of $50.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The company has a market cap of $6.07 billion, a PE ratio of 19.06 and a beta of 2.29.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. Sell-side analysts expect that Celestica Inc. will post 3.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CLS. Canaccord Genuity Group increased their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. CIBC raised their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets upped their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.38.

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.