Celestica, Inc. $CLS Shares Bought by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP raised its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,557 shares of the technology company’s stock after acquiring an additional 7,675 shares during the period. Hudson Bay Capital Management LP owned approximately 0.09% of Celestica worth $15,698,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CLS. Norges Bank purchased a new stake in Celestica in the second quarter valued at approximately $236,069,000. Voya Investment Management LLC grew its stake in shares of Celestica by 362.8% in the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after buying an additional 1,453,473 shares in the last quarter. Alkeon Capital Management LLC purchased a new stake in shares of Celestica in the 1st quarter valued at $96,936,000. SRS Investment Management LLC purchased a new stake in shares of Celestica in the 2nd quarter valued at $135,289,000. Finally, Alliancebernstein L.P. lifted its stake in Celestica by 405.5% during the 1st quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after acquiring an additional 587,145 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

NYSE:CLS opened at $306.71 on Monday. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The firm has a market capitalization of $35.27 billion, a PE ratio of 49.79 and a beta of 1.83. The business’s fifty day moving average price is $306.74 and its 200 day moving average price is $227.83.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $1.04 EPS. Celestica’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, sell-side analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Celestica news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the acquisition, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLS. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. TD Cowen reaffirmed a “hold” rating and set a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. TD Securities raised their price target on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. CIBC boosted their price target on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Finally, CICC Research started coverage on Celestica in a research note on Tuesday, August 19th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $336.13.

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.