Shell Asset Management Co. Reduces Stock Holdings in Celestica Inc. (NYSE:CLS)

Shell Asset Management Co. reduced its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 34.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,184 shares of the technology company’s stock after selling 46,897 shares during the period. Shell Asset Management Co.’s holdings in Celestica were worth $8,231,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd lifted its holdings in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares in the last quarter. Bessemer Group Inc. purchased a new position in Celestica in the 4th quarter worth approximately $42,000. R Squared Ltd purchased a new position in Celestica in the 4th quarter worth approximately $51,000. Finally, IFP Advisors Inc lifted its holdings in Celestica by 122.7% in the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after purchasing an additional 368 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 price target on shares of Celestica in a report on Monday, April 28th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Barclays decreased their price objective on Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.55.

Celestica Price Performance

Shares of CLS stock opened at $111.49 on Friday. Celestica Inc. has a twelve month low of $40.25 and a twelve month high of $144.27. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 29.81 and a beta of 1.65. The stock has a fifty day simple moving average of $87.39 and a two-hundred day simple moving average of $95.44. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s revenue was up 19.9% compared to the same quarter last year. On average, analysts predict that Celestica Inc. will post 4.35 EPS for the current fiscal year.

Celestica Company 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.