Creative Planning Acquires 336 Shares of Celestica Inc. (NYSE:CLS)

Creative Planning boosted its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,526 shares of the technology company’s stock after acquiring an additional 336 shares during the quarter. Creative Planning’s holdings in Celestica were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ascent Group LLC bought a new position in Celestica in the 2nd quarter valued at $225,000. Driehaus Capital Management LLC boosted its stake in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares during the period. Shellback Capital LP grew its holdings in shares of Celestica by 136.5% in the second quarter. Shellback Capital LP now owns 260,153 shares of the technology company’s stock worth $14,915,000 after purchasing an additional 150,153 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Celestica in the second quarter worth about $520,000. Finally, The Manufacturers Life Insurance Company increased its stake in Celestica by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 493,382 shares of the technology company’s stock worth $28,214,000 after buying an additional 39,486 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CLS. Canaccord Genuity Group increased their price objective 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. TD Securities lifted their price target on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. CIBC upped their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average price target of $61.88.

Celestica Price Performance

Shares of CLS opened at $61.11 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. Celestica Inc. has a 1-year low of $20.87 and a 1-year high of $64.56. The stock has a market cap of $7.26 billion, a PE ratio of 22.80 and a beta of 2.28. The firm has a fifty day moving average price of $50.54 and a 200 day moving average price of $51.54.

Celestica (NYSE:CLS) (TSE:CLS) last announced its 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 firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. As a group, sell-side analysts anticipate 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.