Celestica, Inc. $CLS Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. cut its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 39.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,300 shares of the technology company’s stock after selling 10,600 shares during the period. Louisbourg Investments Inc.’s holdings in Celestica were worth $4,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Celestica by 102.5% in the second 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. acquired a new position in shares of Celestica during the 2nd quarter valued at $37,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Celestica in the 2nd quarter worth $40,000. Hilltop National Bank lifted its holdings in shares of Celestica by 86.0% in the third quarter. Hilltop National Bank now owns 186 shares of the technology company’s stock valued at $46,000 after buying an additional 86 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Celestica by 33.1% during the second quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after buying an additional 87 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CLS shares. BNP Paribas reiterated an “outperform” rating and issued a $300.00 price target on shares of Celestica in a research report on Thursday, September 25th. Royal Bank Of Canada raised their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Citigroup upgraded shares of Celestica from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $212.00 to $375.00 in a report on Monday, November 10th. TD Cowen reissued a “hold” rating and set a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Price Performance

NYSE CLS opened at $292.92 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40. The company has a market cap of $33.69 billion, a PE ratio of 47.55 and a beta of 1.83. The stock’s 50-day moving average price is $310.69 and its two-hundred day moving average price is $232.17.

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

Insider Buying and Selling

In other news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.