Canada Pension Plan Investment Board Trims Stake in Celestica Inc. (NYSE:CLS)

Canada Pension Plan Investment Board lowered its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 11.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,200 shares of the technology company’s stock after selling 1,200 shares during the period. Canada Pension Plan Investment Board’s holdings in Celestica were worth $527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Trust Investment Advisors acquired a new position in Celestica in the 2nd quarter valued at $1,390,000. Mark Sheptoff Financial Planning LLC acquired a new position in Celestica in the 2nd quarter valued at $1,178,000. New Age Alpha Advisors LLC acquired a new position in Celestica in the 2nd quarter valued at $573,000. Seven Eight Capital LP raised its holdings in Celestica by 23.4% in the 2nd quarter. Seven Eight Capital LP now owns 51,042 shares of the technology company’s stock valued at $2,926,000 after acquiring an additional 9,690 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Celestica by 2.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,515 shares of the technology company’s stock valued at $1,288,000 after acquiring an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 2.0 %

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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CLS shares. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, September 9th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. CIBC upped their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price objective on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Canaccord Genuity Group upped their price objective on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Celestica 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.