Celestica Inc. (NYSE:CLS) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 17.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,100 shares of the technology company’s stock after selling 3,300 shares during the period. Cumberland Partners Ltd’s holdings in Celestica were worth $474,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CLS. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Celestica by 8.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,540 shares of the technology company’s stock valued at $811,000 after purchasing an additional 2,071 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Celestica in the fourth quarter valued at $462,000. WCM Investment Management LLC purchased a new stake in Celestica during the 4th quarter worth about $67,832,000. Kendall Capital Management boosted its position in shares of Celestica by 54.7% during the 4th quarter. Kendall Capital Management now owns 39,990 shares of the technology company’s stock worth $1,171,000 after acquiring an additional 14,140 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Celestica in the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLS. Royal Bank of Canada upped their price target on Celestica from $38.00 to $47.00 and gave the company an “outperform” rating in a report on Monday. Canaccord Genuity Group upped their target price on shares of Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. CIBC lifted their price target on shares of Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. TD Securities boosted their price target on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets raised their price objective on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.38.

Celestica Stock Performance

Celestica stock traded up $0.44 during midday trading on Wednesday, hitting $44.20. 2,002,664 shares of the company’s stock were exchanged, compared to its average volume of 2,240,441. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22. Celestica Inc. has a 12-month low of $10.50 and a 12-month high of $51.12. The firm’s 50 day simple moving average is $44.32 and its 200 day simple moving average is $34.11.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. Equities research analysts predict that Celestica Inc. will post 2.59 EPS for the current year.

About Celestica

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.