iA Global Asset Management Inc. Acquires New Position in Celestica Inc. (NYSE:CLS)

iA Global Asset Management Inc. bought a new position in Celestica Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 141,920 shares of the technology company’s stock, valued at approximately $7,255,000.

Other hedge funds have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica during the 3rd quarter valued at $61,210,000. Driehaus Capital Management LLC increased its holdings in Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after acquiring an additional 1,158,823 shares in the last quarter. Whale Rock Capital Management LLC raised its position in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Celestica by 1,697.3% during the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after buying an additional 220,494 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays assumed coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price on the stock. TD Securities raised their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised their price target on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.45.

Celestica Stock Up 3.0 %

Shares of CLS stock opened at $94.86 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 30.11 and a beta of 2.27. The stock’s fifty day moving average price is $72.61 and its 200 day moving average price is $59.90. Celestica Inc. has a 1-year low of $26.00 and a 1-year high of $96.00.

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

Celestica 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.