Advisors Asset Management Inc. Acquires 12,584 Shares of Celestica Inc. (NYSE:CLS)

Advisors Asset Management Inc. lifted its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 61.9% in the 3rd quarter, Holdings Channel reports. The fund owned 32,901 shares of the technology company’s stock after buying an additional 12,584 shares during the quarter. Advisors Asset Management Inc.’s holdings in Celestica were worth $1,682,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors boosted its stake in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Celestica during the 3rd quarter valued at about $30,000. UMB Bank n.a. purchased a new position in shares of Celestica during the 3rd quarter valued at about $34,000. Wolff Wiese Magana LLC increased its stake in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the period. Finally, Naples Money Management LLC increased its stake in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares during the period. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLS. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group started coverage on Celestica in a research note on Friday. They issued a “neutral” rating and a $95.00 price target for the company. Barclays started coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective for the company. Finally, Stifel Nicolaus boosted their price target on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and an average target price of $71.45.

Celestica Price Performance

Shares of Celestica stock opened at $89.16 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica Inc. has a twelve month low of $25.83 and a twelve month high of $93.15. The firm has a market cap of $10.37 billion, a PE ratio of 28.30 and a beta of 2.24. The business has a 50-day moving average price of $64.95 and a 200 day moving average price of $57.29.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. Sell-side analysts predict that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

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.