Kendall Capital Management Sells 8,140 Shares of Celestica, Inc. $CLS

Kendall Capital Management cut its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 27.3% in the 4th quarter, HoldingsChannel reports. The fund owned 21,644 shares of the technology company’s stock after selling 8,140 shares during the quarter. Celestica makes up 1.3% of Kendall Capital Management’s investment portfolio, making the stock its 14th largest position. Kendall Capital Management’s holdings in Celestica were worth $6,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares during the last quarter. First Horizon Corp acquired a new position in Celestica in the 3rd quarter valued at $31,000. Twin Peaks Wealth Advisors LLC acquired a new position in Celestica in the 2nd quarter valued at $40,000. Avion Wealth bought a new position in Celestica during the 3rd quarter worth $40,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after buying an additional 56 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

CLS opened at $294.69 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The firm has a market cap of $33.88 billion, a P/E ratio of 41.04 and a beta of 1.88. The business’s fifty day moving average is $285.52 and its 200-day moving average is $292.34.

Insiders Place Their Bets

In other news, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the sale, the president owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Yann L. Etienvre sold 1,145 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 297,923 shares of company stock worth $88,027,459 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CLS shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $400.00 target price on shares of Celestica in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Aletheia Capital lifted their price objective on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Citigroup cut their price objective on shares of Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Bank of America began coverage on shares of Celestica in a report on Wednesday, January 28th. They set a “buy” rating and a $400.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.39.

Celestica 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.