Celestica Inc. (NYSE:CLS) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 8.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 977,873 shares of the technology company’s stock after selling 95,415 shares during the period. Mackenzie Financial Corp’s holdings in Celestica were worth $56,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 170 shares during the period. Naples Money Management LLC boosted its stake in Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after purchasing an additional 450 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in Celestica during the 2nd quarter valued at about $59,000. UMB Bank n.a. acquired a new position in Celestica during the 1st quarter valued at about $64,000. Finally, Byrne Asset Management LLC boosted its stake in Celestica by 52.8% during the 2nd quarter. Byrne Asset Management LLC now owns 1,910 shares of the technology company’s stock valued at $109,000 after purchasing an additional 660 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on CLS shares. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Canaccord Genuity Group boosted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, September 9th. Finally, BMO Capital Markets boosted their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.38.

Celestica Stock Down 2.0 %

NYSE CLS opened at $51.07 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The company’s 50 day simple moving average is $49.64 and its 200 day simple moving average is $50.65. Celestica Inc. has a 12 month low of $20.87 and a 12 month high of $63.49. The company has a market capitalization of $6.07 billion, a P/E ratio of 19.06 and a beta of 2.29.

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