Celestica Inc. (NYSE:CLS) Shares Sold by SG Capital Management LLC

SG Capital Management LLC lowered its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 49.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 523,270 shares of the technology company’s stock after selling 515,102 shares during the period. Celestica comprises 4.7% of SG Capital Management LLC’s holdings, making the stock its 3rd biggest holding. SG Capital Management LLC’s holdings in Celestica were worth $48,298,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CLS. Royal Bank of Canada boosted its holdings in Celestica by 23.0% during the fourth quarter. Royal Bank of Canada now owns 1,261,172 shares of the technology company’s stock worth $116,406,000 after buying an additional 236,124 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of Celestica in the fourth quarter valued at $2,880,000. Point72 Hong Kong Ltd acquired a new stake in shares of Celestica during the 4th quarter valued at $2,241,000. Polar Capital Holdings Plc boosted its stake in shares of Celestica by 822.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after acquiring an additional 1,433,681 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Celestica by 260.5% during the 4th quarter. Man Group plc now owns 148,896 shares of the technology company’s stock worth $13,739,000 after acquiring an additional 107,596 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CLS shares. Stifel Nicolaus boosted their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Argus dropped their target price on shares of Celestica from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.55.

Celestica Stock Performance

CLS stock opened at $111.49 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market cap of $12.89 billion, a P/E ratio of 29.81 and a beta of 1.65. The firm has a 50 day simple moving average of $87.39 and a 200 day simple moving average of $95.44. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27.

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 analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS. Research analysts anticipate that Celestica Inc. will post 4.35 earnings per share for the current fiscal year.

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.