Ameriprise Financial Inc. Reduces Stock Holdings in Celestica Inc. (NYSE:CLS)

Ameriprise Financial Inc. reduced its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 57.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,077 shares of the technology company's stock after selling 548,684 shares during the quarter. Ameriprise Financial Inc. owned 0.34% of Celestica worth $36,835,000 as of its most recent filing with the Securities and Exchange Commission.

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

Celestica Trading Up 1.6%

CLS stock traded up $1.78 during trading on Friday, reaching $113.27. 2,337,001 shares of the stock traded hands, compared to its average volume of 3,207,469. The business's 50 day moving average price is $87.39 and its 200-day moving average price is $95.44. The firm has a market capitalization of $13.09 billion, a PE ratio of 30.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company's revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. As a group, sell-side analysts forecast that Celestica Inc. will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CLS. CIBC reduced their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price objective on shares of Celestica in a research report on Monday, April 28th. Barclays decreased their target price on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, TD Securities increased their price target on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Celestica has a consensus rating of "Moderate Buy" and an average target price of $109.55.

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.