Gladstone Institutional Advisory LLC Sells 2,098 Shares of Celestica, Inc. $CLS

Gladstone Institutional Advisory LLC reduced its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 44.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,640 shares of the technology company’s stock after selling 2,098 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Celestica were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CLS. Voya Investment Management LLC raised its stake in shares of Celestica by 362.8% during the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after buying an additional 1,453,473 shares during the last quarter. Franklin Resources Inc. grew its holdings in Celestica by 25.8% during the 2nd quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock worth $286,184,000 after acquiring an additional 375,910 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Celestica by 17.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after purchasing an additional 259,504 shares during the period. Norges Bank bought a new position in shares of Celestica in the 2nd quarter worth $236,069,000. Finally, Geode Capital Management LLC grew its stake in shares of Celestica by 27.6% during the second quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock worth $153,449,000 after purchasing an additional 208,249 shares during the period. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of Celestica stock opened at $288.64 on Friday. 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 cap of $33.20 billion, a price-to-earnings ratio of 46.86 and a beta of 1.87. The stock’s 50-day moving average is $314.45 and its 200-day moving average is $249.14. Celestica, Inc. has a one year low of $58.05 and a one year high of $363.40.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm earned $1.04 EPS. Celestica’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLS. CIBC raised their target price on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. TD Cowen reissued a “hold” rating and issued a $238.00 price target on shares of Celestica in a report on Friday, October 3rd. TD Securities raised their price objective on Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Citigroup raised Celestica from a “neutral” rating to a “buy” rating and raised their price target for the stock from $212.00 to $375.00 in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $336.13.

Insider Activity at Celestica

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction that occurred on 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 acquisition, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

About Celestica

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.