Celestica Inc. (NYSE:CLS) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,782 shares of the technology company’s stock after selling 1,855 shares during the period. CIBC Asset Management Inc’s holdings in Celestica were worth $7,456,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CLS. SG Americas Securities LLC acquired a new position in Celestica in the 1st quarter valued at about $226,000. Sei Investments Co. increased its position in Celestica by 117.8% in the 1st quarter. Sei Investments Co. now owns 40,560 shares of the technology company’s stock valued at $1,823,000 after acquiring an additional 21,940 shares during the period. Avantax Advisory Services Inc. purchased a new stake in Celestica in the 1st quarter valued at approximately $313,000. Kingsview Wealth Management LLC purchased a new stake in Celestica in the 1st quarter valued at approximately $286,000. Finally, Vanguard Group Inc. boosted its holdings in Celestica by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

CLS stock opened at $82.18 on Monday. 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 quick ratio of 0.87 and a current ratio of 1.47. The stock’s 50 day moving average price is $60.64 and its 200 day moving average price is $55.90. The firm has a market cap of $9.75 billion, a P/E ratio of 26.09 and a beta of 2.24.

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

Wall Street Analyst Weigh In

CLS has been the topic of a number of analyst reports. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Securities lifted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group boosted their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.10.

About Celestica

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.