Intact Investment Management Inc. Grows Stock Position in Celestica Inc. (NYSE:CLS)

Intact Investment Management Inc. increased its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 166.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,780 shares of the technology company’s stock after buying an additional 107,280 shares during the quarter. Intact Investment Management Inc. owned 0.14% of Celestica worth $5,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after acquiring an additional 2,054,918 shares during the period. Vanguard Group Inc. increased its stake in shares of Celestica by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock worth $90,831,000 after purchasing an additional 47,619 shares in the last quarter. WCM Investment Management LLC bought a new position in Celestica in the 4th quarter worth $67,832,000. Shannon River Fund Management LLC purchased a new position in Celestica during the third quarter valued at $41,565,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Celestica by 21.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,412,581 shares of the technology company’s stock valued at $34,692,000 after purchasing an additional 244,884 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLS. TD Securities raised their price objective on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their target price on shares of Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Sunday. Stifel Nicolaus increased their price objective on shares of Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Canaccord Genuity Group lifted their target price on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.25.

Celestica Price Performance

CLS traded up $0.21 during trading on Friday, hitting $43.46. 3,271,523 shares of the company traded hands, compared to its average volume of 2,323,659. The company has a market cap of $5.18 billion, a PE ratio of 16.22 and a beta of 2.22. Celestica Inc. has a 1 year low of $10.50 and a 1 year high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock’s 50-day simple moving average is $44.57 and its two-hundred day simple moving average is $34.42.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 18.21% and a net margin of 3.86%. As a group, sell-side analysts anticipate that Celestica Inc. will post 2.59 earnings per share for the current fiscal year.

About Celestica

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.