Quantbot Technologies LP Trims Stake in Celestica, Inc. $CLS

Quantbot Technologies LP lessened its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 47.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 22,039 shares of the technology company’s stock after selling 19,559 shares during the quarter. Quantbot Technologies LP’s holdings in Celestica were worth $3,441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Celestica by 1,103.8% in the 1st quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock valued at $1,930,000 after buying an additional 22,452 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Celestica during the second quarter valued at approximately $328,000. Y Intercept Hong Kong Ltd lifted its position in shares of Celestica by 406.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after acquiring an additional 42,215 shares in the last quarter. Fortis Capital Advisors LLC purchased a new position in shares of Celestica in the second quarter valued at approximately $343,000. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Celestica by 2.2% in the second quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock worth $22,356,000 after acquiring an additional 3,221 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Celestica Trading Up 4.6%

Shares of CLS opened at $322.53 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The firm has a 50-day moving average price of $295.92 and a 200 day moving average price of $217.14. The firm has a market capitalization of $37.09 billion, a P/E ratio of 52.36 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. Celestica’s quarterly revenue was up 27.8% compared to the same quarter last year. Sell-side analysts forecast that Celestica, Inc. will post 4.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CLS. TD Securities increased their price objective on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. TD Cowen reaffirmed a “hold” rating and set a $238.00 target price on shares of Celestica in a report on Friday, October 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $385.00 price target (up from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. BNP Paribas restated an “outperform” rating and set a $300.00 price target on shares of Celestica in a research report on Thursday, September 25th. Finally, CICC Research initiated coverage on shares of Celestica in a report on Tuesday, August 19th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

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.