Freedom Investment Management Inc. Takes Position in Celestica Inc. (NYSE:CLS)

Freedom Investment Management Inc. purchased a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,264 shares of the technology company’s stock, valued at approximately $578,000.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new position in shares of Celestica in the fourth quarter valued at $385,000. Raymond James Financial Inc. acquired a new position in Celestica in the 4th quarter worth $47,685,000. Schechter Investment Advisors LLC purchased a new position in Celestica in the 4th quarter valued at about $294,000. American Century Companies Inc. grew its stake in shares of Celestica by 16.4% during the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock valued at $20,217,000 after acquiring an additional 30,851 shares in the last quarter. Finally, Fruth Investment Management purchased a new stake in shares of Celestica during the fourth quarter worth about $286,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Up 4.4 %

NYSE:CLS opened at $84.12 on Monday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $93.69 and a 200-day moving average of $91.46. The firm has a market capitalization of $9.75 billion, a PE ratio of 22.49 and a beta of 2.09. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27.

Insider Buying and Selling

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 934,381 shares of company stock worth $116,673,769 in the last three months. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CLS shares. Barclays increased their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of Celestica from $166.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, CIBC cut their target price on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $103.25.

Celestica Company Profile

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.