Clark Capital Management Group Inc. Cuts Position in Celestica, Inc. $CLS

Clark Capital Management Group Inc. reduced its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 26.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 452,552 shares of the technology company’s stock after selling 161,673 shares during the period. Clark Capital Management Group Inc.’s holdings in Celestica were worth $111,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Celestica by 93.4% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,412 shares of the technology company’s stock worth $2,287,000 after purchasing an additional 4,546 shares during the period. JAT Capital Mgmt LP acquired a new stake in shares of Celestica in the third quarter valued at about $2,488,000. Schonfeld Strategic Advisors LLC purchased a new stake in Celestica during the third quarter worth about $1,081,000. Ashford Capital Management Inc. purchased a new stake in Celestica during the third quarter worth about $298,000. Finally, Viking Global Investors LP acquired a new position in Celestica during the third quarter worth about $424,459,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Stock Performance

Shares of CLS opened at $263.83 on Friday. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The stock has a market cap of $30.35 billion, a P/E ratio of 36.75 and a beta of 1.88. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $292.58 and a two-hundred day moving average of $287.15.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Wolfe Research upgraded Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. Citigroup dropped their price objective on Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Canaccord Genuity Group boosted their target price on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $354.24.

Insider Transactions at Celestica

In related news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. The trade was a 45.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,923 shares of company stock valued at $88,027,459 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.