D.A. Davidson & CO. Increases Stock Position in Celestica Inc. (NYSE:CLS)

D.A. Davidson & CO. increased its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 66.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,175 shares of the technology company’s stock after buying an additional 4,850 shares during the quarter. D.A. Davidson & CO.’s holdings in Celestica were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica in the 3rd quarter valued at about $61,210,000. Driehaus Capital Management LLC raised its holdings in Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after buying an additional 1,158,823 shares during the period. Natixis Advisors LLC lifted its position in Celestica by 1,697.3% during the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after buying an additional 220,494 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd grew its stake in Celestica by 53.8% during the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after buying an additional 183,300 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Celestica in the second quarter worth $10,491,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLS. Stifel Nicolaus upped their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their target price on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets upped their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their price objective 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. Finally, Barclays assumed coverage on shares of Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $71.45.

Celestica Price Performance

CLS opened at $84.96 on Tuesday. The company has a market capitalization of $9.89 billion, a P/E ratio of 26.97 and a beta of 2.24. The company has a 50-day moving average of $69.37 and a 200-day moving average of $58.85. 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 1-year low of $25.83 and a 1-year high of $93.15.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data 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 firm had revenue of $2.50 billion during 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%. Celestica’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. Equities analysts expect that Celestica Inc. will post 3.44 EPS for the current fiscal year.

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.