Vaughan Nelson Investment Management L.P. Purchases New Stake in Celestica Inc. (NYSE:CLS)

Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, Holdings Channel reports. The firm purchased 1,197,375 shares of the technology company’s stock, valued at approximately $61,210,000.

Several other institutional investors have also recently bought and sold shares of CLS. Optimum Investment Advisors increased its position in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the 3rd quarter worth approximately $30,000. UMB Bank n.a. purchased a new stake in shares of Celestica in the third quarter worth approximately $34,000. Wolff Wiese Magana LLC lifted 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 in the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in Celestica during the third quarter worth $51,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CLS shares. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group raised their price target on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. TD Securities upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.10.

Celestica Stock Performance

Shares of CLS opened at $82.18 on Friday. Celestica Inc. has a 1 year low of $25.83 and a 1 year high of $87.99. 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 stock’s fifty day moving average price is $60.64 and its two-hundred day moving average price is $55.82. The firm has a market cap of $9.75 billion, a PE ratio of 26.09 and a beta of 2.24.

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