Hudson Bay Capital Management LP Buys 27,000 Shares of Celestica Inc. (NYSE:CLS)

Hudson Bay Capital Management LP lifted its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 150.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,000 shares of the technology company’s stock after purchasing an additional 27,000 shares during the period. Hudson Bay Capital Management LP’s holdings in Celestica were worth $4,154,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Barclays PLC raised its position in Celestica by 151.3% during the third quarter. Barclays PLC now owns 51,848 shares of the technology company’s stock worth $2,651,000 after acquiring an additional 31,219 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Celestica in the 4th quarter valued at about $184,000. SeaCrest Wealth Management LLC bought a new position in Celestica during the fourth quarter worth about $946,000. Wolff Wiese Magana LLC grew its holdings in Celestica by 47.7% during the fourth quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the technology company’s stock worth $102,000 after purchasing an additional 355 shares during the period. Finally, Hennessy Advisors Inc. increased its position in Celestica by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 220,200 shares of the technology company’s stock worth $20,324,000 after buying an additional 14,000 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CLS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Celestica in a research report on Monday, April 28th. Argus decreased their price objective on shares of Celestica from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. TD Securities increased their price target on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, CIBC reduced their price objective on Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average price target of $105.42.

Celestica Trading Up 7.9%

Shares of CLS stock opened at $100.37 on Tuesday. The stock has a market cap of $11.64 billion, a P/E ratio of 26.84 and a beta of 1.65. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $85.70 and a 200 day simple moving average of $94.93.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. Celestica’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. On average, research analysts predict that Celestica Inc. will post 4.35 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.