Envestnet Asset Management Inc. Buys 73,764 Shares of Celestica Inc. (NYSE:CLS)

Envestnet Asset Management Inc. raised its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 185.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,483 shares of the technology company’s stock after purchasing an additional 73,764 shares during the period. Envestnet Asset Management Inc.’s holdings in Celestica were worth $6,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its holdings in shares of Celestica by 32.1% during the second 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. Naples Money Management LLC increased its position in Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after buying an additional 450 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Celestica during the second quarter valued at about $59,000. UMB Bank n.a. bought a new position in Celestica in the 1st quarter worth approximately $64,000. Finally, Byrne Asset Management LLC lifted its holdings in shares of Celestica by 52.8% in the 2nd quarter. Byrne Asset Management LLC now owns 1,910 shares of the technology company’s stock valued at $109,000 after acquiring an additional 660 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 1.9 %

Celestica stock opened at $51.08 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The company has a market capitalization of $6.07 billion, a PE ratio of 19.06 and a beta of 2.29. The firm has a 50 day moving average price of $49.64 and a 200 day moving average price of $50.73. Celestica Inc. has a fifty-two week low of $20.87 and a fifty-two week high of $63.49.

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

Wall Street Analyst Weigh In

Several brokerages have commented on CLS. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, September 9th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group upped their target price on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, CIBC upped their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” 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 stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $58.38.

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.