American Century Companies Inc. Cuts Stake in Celestica Inc. (NYSE:CLS)

American Century Companies Inc. cut its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360,336 shares of the technology company’s stock after selling 193,887 shares during the quarter. American Century Companies Inc. owned about 1.15% of Celestica worth $77,961,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC increased 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 purchasing an additional 170 shares in the last quarter. Naples Money Management LLC lifted its position in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after acquiring an additional 450 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Celestica during the 2nd quarter valued at $59,000. UMB Bank n.a. bought a new stake in shares of Celestica in the 1st quarter worth $64,000. Finally, Principal Securities Inc. purchased a new position in shares of Celestica in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CLS. Canaccord Genuity Group increased their price objective on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. CIBC increased their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. BMO Capital Markets raised their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, Royal Bank of Canada boosted their target price on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Celestica Stock Up 0.7 %

Shares of CLS stock opened at $45.87 on Friday. 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 12 month low of $20.87 and a 12 month high of $63.49. The stock has a market cap of $5.45 billion, a P/E ratio of 17.12 and a beta of 2.29. The company has a 50 day simple moving average of $51.66 and a two-hundred day simple moving average of $50.35.

Celestica (NYSE:CLS) (TSE:CLS) last announced 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 return on equity of 19.96% and a net margin of 4.16%. The company 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. Celestica’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, research analysts expect that Celestica Inc. will post 3.22 earnings per share for the current year.

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.