Celestica Inc. (NYSE:CLS) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,782 shares of the technology company’s stock after selling 1,855 shares during the quarter. CIBC Asset Management Inc owned about 0.12% of Celestica worth $7,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLS. Optimum Investment Advisors increased its holdings in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Celestica in the third quarter valued at approximately $30,000. UMB Bank n.a. acquired a new stake in shares of Celestica in the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC increased its holdings in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Celestica in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CLS. CIBC raised their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. TD Cowen raised their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their target price on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. TD Securities raised their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.10.

Celestica Trading Up 2.1 %

NYSE:CLS opened at $82.18 on Monday. The firm has a market cap of $9.75 billion, a PE ratio of 26.09 and a beta of 2.24. The stock has a fifty day moving average price of $60.64 and a 200 day moving average price of $55.90. Celestica Inc. has a 12-month low of $25.83 and a 12-month high of $87.99. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. Celestica’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

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.