Zweig DiMenna Associates LLC Buys Shares of 100,439 Celestica, Inc. $CLS

Zweig DiMenna Associates LLC bought a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 100,439 shares of the technology company’s stock, valued at approximately $15,680,000. Celestica makes up about 1.5% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 18th biggest position. Zweig DiMenna Associates LLC owned approximately 0.09% of Celestica as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Freedom Investment Management Inc. increased its holdings in Celestica by 1.5% during the 1st quarter. Freedom Investment Management Inc. now owns 6,360 shares of the technology company’s stock valued at $501,000 after acquiring an additional 96 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Celestica by 45.6% during the second quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock worth $57,000 after buying an additional 114 shares in the last quarter. First National Bank of Hutchinson raised its position in shares of Celestica by 2.5% in the first quarter. First National Bank of Hutchinson now owns 4,914 shares of the technology company’s stock valued at $387,000 after buying an additional 120 shares during the last quarter. Private Trust Co. NA raised its position in shares of Celestica by 14.1% in the first quarter. Private Trust Co. NA now owns 993 shares of the technology company’s stock valued at $78,000 after buying an additional 123 shares during the last quarter. Finally, Bay Rivers Group raised its position in shares of Celestica by 0.7% in the second quarter. Bay Rivers Group now owns 19,636 shares of the technology company’s stock valued at $3,065,000 after buying an additional 142 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Celestica Stock Performance

Shares of CLS stock opened at $344.48 on Friday. Celestica, Inc. has a one year low of $58.05 and a one year high of $360.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The company has a 50 day moving average price of $252.81 and a 200 day moving average price of $179.75. The firm has a market capitalization of $39.63 billion, a price-to-earnings ratio of 55.92 and a beta of 1.88.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Celestica’s revenue for the quarter was up 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLS. Weiss Ratings reissued a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. CIBC boosted their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada boosted their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen reissued a “hold” rating and issued a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. Finally, Citigroup boosted their price objective on shares of Celestica from $172.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.13.

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.