Cumberland Partners Ltd Cuts Stock Position in Celestica Inc. (NYSE:CLS)

Cumberland Partners Ltd cut its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,100 shares of the technology company’s stock after selling 3,300 shares during the quarter. Cumberland Partners Ltd’s holdings in Celestica were worth $474,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CLS. SG Americas Securities LLC purchased a new position in Celestica during the third quarter valued at $318,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Celestica in the third quarter worth about $285,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Celestica in the third quarter worth about $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Celestica by 29.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock valued at $626,000 after buying an additional 5,758 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Celestica by 205.8% during the 3rd quarter. Mackenzie Financial Corp now owns 1,152,790 shares of the technology company’s stock valued at $27,334,000 after buying an additional 775,761 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Trading Up 1.0 %

CLS traded up $0.44 during trading hours on Wednesday, reaching $44.20. 2,002,664 shares of the company’s stock traded hands, compared to its average volume of 2,240,441. The firm has a 50-day moving average price of $44.32 and a 200 day moving average price of $34.11. The firm has a market capitalization of $5.27 billion, a PE ratio of 21.77 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. Celestica Inc. has a 52-week low of $10.50 and a 52-week high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. As a group, sell-side analysts predict that Celestica Inc. will post 2.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Securities increased their target price on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on shares of Celestica from $38.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. CIBC boosted their target price on shares of Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, BMO Capital Markets lifted their price target on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Celestica 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.