Oak Ridge Investments LLC Reduces Holdings in Celestica, Inc. $CLS

Oak Ridge Investments LLC trimmed its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,058 shares of the technology company’s stock after selling 10,223 shares during the period. Celestica makes up 1.0% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 18th largest holding. Oak Ridge Investments LLC’s holdings in Celestica were worth $15,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp purchased a new position in shares of Celestica in the 3rd quarter valued at $31,000. Avion Wealth purchased a new position in shares of Celestica in the 3rd quarter valued at $40,000. Fifth Third Bancorp grew its position in shares of Celestica by 48.7% in the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after buying an additional 56 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Celestica in the 4th quarter valued at $52,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CLS. Zacks Research downgraded shares of Celestica from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Citigroup cut their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a report on Friday, January 30th. TD Securities lifted their target price on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a report on Friday, January 30th. Canadian Imperial Bank of Commerce cut their target price on shares of Celestica from $400.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Celestica in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.39.

Celestica Stock Performance

Shares of Celestica stock opened at $366.05 on Tuesday. The firm’s fifty day simple moving average is $287.37 and its 200-day simple moving average is $296.43. The stock has a market capitalization of $42.08 billion, a price-to-earnings ratio of 50.98 and a beta of 1.88. Celestica, Inc. has a 12 month low of $77.86 and a 12 month high of $368.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88.

Insider Activity

In other Celestica news, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares in the company, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $24,786,526.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last ninety days. 0.52% of the stock is currently owned by company insiders.

Celestica Company 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.