Point72 Asset Management L.P. Decreases Position in Celestica Inc. (NYSE:CLS)

Point72 Asset Management L.P. decreased its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 61.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 783,159 shares of the technology company’s stock after selling 1,251,486 shares during the period. Point72 Asset Management L.P. owned about 0.66% of Celestica worth $44,899,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after acquiring an additional 8,368,293 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Celestica by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock worth $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock worth $118,730,000 after purchasing an additional 7,335 shares during the last quarter. WCM Investment Management LLC lifted its stake in Celestica by 4.6% in the 1st quarter. WCM Investment Management LLC now owns 2,398,352 shares of the technology company’s stock valued at $107,782,000 after buying an additional 105,943 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in Celestica by 411.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,627,529 shares of the technology company’s stock valued at $47,654,000 after buying an additional 1,309,257 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 1.5 %

Shares of NYSE CLS opened at $50.76 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $6.02 billion, a PE ratio of 18.94 and a beta of 2.29. The firm has a fifty day moving average of $49.83 and a 200-day moving average of $50.59. Celestica Inc. has a 52-week low of $20.87 and a 52-week high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. On average, analysts anticipate that Celestica Inc. will post 3.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. BMO Capital Markets lifted their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. 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 research report on Monday, September 9th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada increased their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.38.

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.