Celestica, Inc. $CLS Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 17.3% during the second quarter, Holdings Channel reports. The fund owned 9,669 shares of the technology company’s stock after selling 2,026 shares during the period. Pitcairn Co.’s holdings in Celestica were worth $1,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares during the period. ST Germain D J Co. Inc. purchased a new stake in shares of Celestica during the second quarter worth approximately $37,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Celestica in the second quarter valued at approximately $40,000. First Horizon Advisors Inc. raised its holdings in Celestica by 33.1% in the second quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after acquiring an additional 87 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in Celestica by 45.6% during the 2nd quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock worth $57,000 after acquiring an additional 114 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Price Performance

CLS stock opened at $306.71 on Monday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $35.27 billion, a P/E ratio of 49.79 and a beta of 1.83. The business has a 50 day simple moving average of $306.74 and a 200-day simple moving average of $227.83. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. Celestica’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, equities analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CLS shares. TD Securities boosted their target price on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada increased their price objective on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Citigroup raised Celestica from a “neutral” rating to a “buy” rating and upped their price target for the company from $212.00 to $375.00 in a report on Monday, November 10th. Finally, New Street Research set a $400.00 price target on shares of Celestica in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and an average target price of $336.13.

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the purchase, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

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.