New Age Alpha Advisors LLC Takes Position in Celestica Inc. (NYSE:CLS)

New Age Alpha Advisors LLC bought a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,000 shares of the technology company’s stock, valued at approximately $573,000.

A number of other institutional investors have also recently added to or reduced their stakes in CLS. Principal Securities Inc. acquired a new position in shares of Celestica during the fourth quarter worth about $42,000. Dimensional Fund Advisors LP lifted its position in Celestica by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock worth $38,491,000 after acquiring an additional 147,417 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Celestica by 27.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 94,749 shares of the technology company’s stock worth $2,774,000 after acquiring an additional 20,642 shares during the period. Norges Bank acquired a new stake in Celestica in the fourth quarter valued at approximately $26,755,000. Finally, Clearbridge Investments LLC acquired a new stake in Celestica in the fourth quarter valued at approximately $2,382,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CLS shares. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. BMO Capital Markets lifted their target price on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. CIBC increased their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Celestica Price Performance

NYSE CLS opened at $46.84 on Thursday. The company has a 50-day moving average price of $50.86 and a two-hundred day moving average price of $50.48. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 17.48 and a beta of 2.29. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 52 week low of $20.87 and a 52 week high of $63.49.

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