Bay Rivers Group Sells 1,059 Shares of Celestica Inc. (NYSE:CLS)

Bay Rivers Group lowered its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,279 shares of the technology company’s stock after selling 1,059 shares during the quarter. Bay Rivers Group’s holdings in Celestica were worth $1,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CLS. Foundations Investment Advisors LLC purchased a new stake in Celestica in the fourth quarter worth approximately $265,000. Blue Trust Inc. lifted its holdings in shares of Celestica by 9.7% in the 4th quarter. Blue Trust Inc. now owns 15,831 shares of the technology company’s stock worth $1,461,000 after acquiring an additional 1,398 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Celestica in the 4th quarter valued at $302,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica in the 4th quarter valued at $385,000. Finally, FCG Investment Co grew its holdings in shares of Celestica by 2.5% during the 4th quarter. FCG Investment Co now owns 22,362 shares of the technology company’s stock valued at $2,064,000 after purchasing an additional 542 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Celestica news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CLS shares. Barclays began coverage on shares of Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target for the company. Stifel Nicolaus increased their target price on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price objective on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.45.

Celestica Stock Down 28.4 %

Shares of Celestica stock opened at $87.11 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12-month low of $31.82 and a 12-month high of $131.23. The company has a market cap of $10.14 billion, a P/E ratio of 27.65 and a beta of 2.25. The company’s fifty day simple moving average is $96.92 and its two-hundred day simple moving average is $71.01.

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.