Dynamic Technology Lab Private Ltd Makes New Investment in Celestica Inc. (NYSE:CLS)

Dynamic Technology Lab Private Ltd acquired a new position in Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, HoldingsChannel reports. The fund acquired 31,976 shares of the technology company’s stock, valued at approximately $1,635,000.

Other hedge funds have also added to or reduced their stakes in the company. Optimum Investment Advisors raised its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the third quarter valued at approximately $30,000. UMB Bank n.a. bought a new stake in shares of Celestica in the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC raised its position in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in shares of Celestica in the third quarter valued at approximately $51,000. Institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

CLS stock opened at $85.61 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a one year low of $25.83 and a one year high of $93.15. The stock has a market cap of $9.96 billion, a PE ratio of 27.18 and a beta of 2.24. The firm has a 50 day simple moving average of $64.95 and a two-hundred day simple moving average of $57.35.

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, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, analysts predict that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLS has been the topic of several research reports. TD Securities boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays initiated coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. UBS Group initiated coverage on shares of Celestica in a research report on Friday. They issued a “neutral” rating and a $95.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.45.

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.