Csenge Advisory Group Invests $371,000 in Celestica Inc. (NYSE:CLS)

Csenge Advisory Group purchased a new position in Celestica Inc. (NYSE:CLS) (TSE:CLS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,466 shares of the technology company’s stock, valued at approximately $371,000.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted 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 acquiring an additional 8,368,293 shares during the last quarter. Vanguard Group Inc. lifted its position in Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock worth $194,643,000 after buying an additional 64,658 shares in the last quarter. Point72 Asset Management L.P. lifted 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 worth $99,163,000 after buying an additional 1,428,071 shares in the last quarter. Acadian Asset Management LLC lifted its position in Celestica by 0.3% during the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock worth $118,730,000 after buying an additional 7,335 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in Celestica by 4.6% during the first quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock worth $107,782,000 after buying an additional 105,943 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on CLS shares. Fox Advisors started coverage on Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 price objective on the stock. Royal Bank of Canada lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. CIBC lifted their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Canaccord Genuity Group lifted their target price on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.38.

Celestica Stock Performance

Celestica stock traded up $1.77 during trading hours on Thursday, reaching $46.25. 2,654,706 shares of the stock were exchanged, compared to its average volume of 2,348,884. The stock has a market cap of $5.49 billion, a P/E ratio of 17.26 and a beta of 2.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. Celestica Inc. has a 52-week low of $20.22 and a 52-week high of $63.49. The firm’s 50 day moving average is $55.10 and its 200 day moving average is $48.00.

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

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.