Tobam Buys New Position in Celestica Inc. (NYSE:CLS)

Tobam purchased a new stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 4,021 shares of the technology company’s stock, valued at approximately $231,000.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after purchasing an additional 8,368,293 shares during the last quarter. Point72 Asset Management L.P. raised its position in Celestica by 72.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after purchasing an additional 1,428,071 shares in the last quarter. Point72 Hong Kong Ltd raised its position in Celestica by 411.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after purchasing an additional 1,309,257 shares in the last quarter. Norges Bank purchased a new position in shares of Celestica in the fourth quarter worth about $26,755,000. Finally, Vanguard Group Inc. grew its stake in shares of Celestica by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after purchasing an additional 562,157 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Celestica Price Performance

NYSE CLS traded up $0.07 during trading hours on Friday, hitting $50.64. 907,152 shares of the company’s stock traded hands, compared to its average volume of 2,281,169. Celestica Inc. has a 52-week low of $20.87 and a 52-week high of $63.49. The company has a market capitalization of $6.02 billion, a PE ratio of 18.74 and a beta of 2.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The firm’s 50-day moving average is $54.09 and its 200-day moving average is $49.85.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities analysts forecast that Celestica Inc. will post 3.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CLS shares. Royal Bank of Canada lifted their price objective on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Fox Advisors began coverage on shares of Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Celestica from $51.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, July 26th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group increased their price objective on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.38.

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.