Jefferies Financial Group Inc. Purchases New Position in Celestica, Inc. $CLS

Jefferies Financial Group Inc. purchased a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,005 shares of the technology company’s stock, valued at approximately $5,423,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CLS. Cibc World Market Inc. bought a new position in Celestica in the 2nd quarter worth approximately $757,811,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Celestica in the 2nd quarter valued at approximately $674,199,000. Royal Bank of Canada raised its stake in Celestica by 13.8% during the 1st quarter. Royal Bank of Canada now owns 1,283,561 shares of the technology company’s stock valued at $361,553,000 after acquiring an additional 156,040 shares in the last quarter. Bank of America Corp DE bought a new stake in Celestica during the 2nd quarter valued at $444,899,000. Finally, Pictet Asset Management Holding SA raised its stake in Celestica by 94.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,068,473 shares of the technology company’s stock valued at $386,578,000 after acquiring an additional 518,798 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLS. Bank of America reiterated a “buy” rating on shares of Celestica in a research report on Wednesday, July 29th. Canaccord Genuity Group raised their price target on Celestica from $455.00 to $480.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Celestica from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Celestica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 28th. Finally, Scotiabank began coverage on shares of Celestica in a research report on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $445.14.

Insider Transactions at Celestica

In other Celestica news, CEO Robert Mionis sold 23,396 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total value of $8,521,291.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Todd Cooper sold 20,118 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares of the company’s stock, valued at $26,370,720. The trade was a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Celestica Stock Performance

Shares of NYSE CLS opened at $254.63 on Friday. Celestica, Inc. has a 1 year low of $197.50 and a 1 year high of $474.02. The firm has a market cap of $32.11 billion, a P/E ratio of 26.06, a PEG ratio of 1.70 and a beta of 2.10. The stock has a fifty day moving average price of $312.83 and a two-hundred day moving average price of $327.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.61.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.28. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.39 billion. Celestica had a return on equity of 33.80% and a net margin of 6.83%. Research analysts forecast that Celestica, Inc. will post 10.97 EPS for the current fiscal year.

Celestica Company Profile

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.