Celestica, Inc. $CLS Stock Holdings Cut by Kendall Capital Management

Kendall Capital Management reduced its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 10.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,784 shares of the technology company’s stock after selling 3,438 shares during the period. Celestica comprises 1.7% of Kendall Capital Management’s investment portfolio, making the stock its 10th biggest position. Kendall Capital Management’s holdings in Celestica were worth $7,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Celestica by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 130,351 shares of the technology company’s stock worth $20,349,000 after acquiring an additional 8,884 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Celestica by 33.1% during the second quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after purchasing an additional 87 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Celestica by 44.2% during the 2nd quarter. Metis Global Partners LLC now owns 4,944 shares of the technology company’s stock valued at $772,000 after buying an additional 1,516 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Celestica in the second quarter worth about $242,000. Finally, Aviva PLC grew its stake in shares of Celestica by 6.7% in the 2nd quarter. Aviva PLC now owns 81,774 shares of the technology company’s stock worth $12,774,000 after buying an additional 5,150 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Celestica

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the business’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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 1,065 shares of the firm’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 $301,938.15. Following the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 over the last 90 days. 0.52% of the stock is owned by corporate insiders.

Celestica Stock Performance

CLS opened at $269.08 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. The stock has a market capitalization of $30.96 billion, a price-to-earnings ratio of 37.48 and a beta of 1.88. The company has a fifty day moving average of $294.56 and a 200 day moving average of $286.33. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CLS. Canaccord Genuity Group upped their target price on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Wolfe Research raised shares of Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, January 21st. TD Cowen restated a “hold” rating on shares of Celestica in a research report on Friday, January 30th. Finally, Bank of America initiated coverage on Celestica in a research note on Wednesday, January 28th. They issued a “buy” rating and a $400.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

About Celestica

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.