Morgan Stanley Boosts Stake in Celestica, Inc. (CLS)
Morgan Stanley increased its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 34.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,635,437 shares of the technology company’s stock after buying an additional 418,774 shares during the period. Morgan Stanley owned 1.15% of Celestica worth $23,763,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cutler Group LP boosted its position in Celestica by 367.1% in the first quarter. Cutler Group LP now owns 7,557 shares of the technology company’s stock worth $109,000 after buying an additional 5,939 shares in the last quarter. FMR LLC bought a new position in Celestica during the fourth quarter worth about $153,000. Envestnet Asset Management Inc. boosted its position in Celestica by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock worth $155,000 after buying an additional 1,508 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Celestica during the first quarter valued at about $161,000. Finally, AXA acquired a new position in shares of Celestica during the first quarter valued at about $212,000. 61.42% of the stock is owned by institutional investors and hedge funds.
Celestica, Inc. (CLS) traded down 1.77% on Friday, reaching $11.67. 227,151 shares of the company’s stock traded hands. The stock has a 50-day moving average of $13.44 and a 200 day moving average of $13.72. The firm has a market capitalization of $1.67 billion, a P/E ratio of 12.68 and a beta of 0.66. Celestica, Inc. has a 52 week low of $10.16 and a 52 week high of $14.74.
Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. Celestica had a return on equity of 13.64% and a net margin of 2.12%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. On average, equities analysts expect that Celestica, Inc. will post $1.27 EPS for the current fiscal year.
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Several research analysts recently issued reports on the stock. BidaskClub cut shares of Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Canaccord Genuity reaffirmed a “buy” rating on shares of Celestica in a report on Friday, July 28th. BMO Capital Markets cut their price objective on shares of Celestica from $14.50 to $13.40 and set a “market perform” rating for the company in a report on Wednesday, July 26th. Scotiabank reiterated a “sector perform” rating and issued a $15.00 target price on shares of Celestica in a research report on Friday, April 21st. Finally, Bank of America Corporation started coverage on shares of Celestica in a research report on Thursday, June 15th. They set a “neutral” rating and a $15.50 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.92.
Celestica Company Profile
Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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