Allspring Global Investments Holdings LLC Makes New Investment in Celestica Inc. (NYSE:CLS)

Allspring Global Investments Holdings LLC bought a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 97,107 shares of the technology company’s stock, valued at approximately $5,567,000. Allspring Global Investments Holdings LLC owned approximately 0.08% of Celestica as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CLS. Wolff Wiese Magana LLC grew its stake in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after acquiring an additional 170 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Celestica in the fourth quarter valued at approximately $42,000. Naples Money Management LLC increased its holdings in shares of Celestica by 90.0% in the second 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 last quarter. UMB Bank n.a. purchased a new position in Celestica during the first quarter worth approximately $64,000. Finally, Byrne Asset Management LLC lifted its position in Celestica by 52.8% during the second quarter. Byrne Asset Management LLC now owns 1,910 shares of the technology company’s stock worth $109,000 after buying an additional 660 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CLS shares. Stifel Nicolaus raised their target price on Celestica from $51.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Fox Advisors assumed coverage on shares of Celestica in a research note on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price on the stock. BMO Capital Markets increased their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Canaccord Genuity Group raised their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.38.

Celestica Stock Up 0.7 %

NYSE:CLS opened at $50.92 on Friday. Celestica Inc. has a 52 week low of $20.87 and a 52 week high of $63.49. The stock’s fifty day moving average is $53.99 and its two-hundred day moving average is $50.02. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 19.00 and a beta of 2.31. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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