Logan Capital Management Inc. Raises Stake in Celestica, Inc. $CLS

Logan Capital Management Inc. lifted its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 24.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 34,929 shares of the technology company’s stock after buying an additional 6,842 shares during the period. Logan Capital Management Inc.’s holdings in Celestica were worth $5,453,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC raised its holdings in Celestica by 362.8% in the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after acquiring an additional 1,453,473 shares during the last quarter. Alkeon Capital Management LLC acquired a new position in Celestica in the first quarter valued at $96,936,000. Alliancebernstein L.P. lifted its position in Celestica by 405.5% during the first quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after buying an additional 587,145 shares during the period. JAT Capital Mgmt LP acquired a new stake in Celestica in the 1st quarter worth about $40,077,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Celestica in the 2nd quarter worth about $75,691,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

Celestica stock opened at $303.05 on Tuesday. The firm has a fifty day moving average of $240.56 and a 200-day moving average of $172.53. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $314.29. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $34.86 billion, a P/E ratio of 65.59 and a beta of 1.88.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. Celestica had a net margin of 5.11% and a return on equity of 28.23%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. As a group, analysts predict that Celestica, Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

CLS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Celestica from $225.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Canaccord Genuity Group upped their price target on shares of Celestica from $126.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Citigroup lifted their price target on shares of Celestica from $172.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.36.

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.