Aptus Capital Advisors LLC Decreases Holdings in Celestica, Inc. $CLS

Key Points

• Aptus Capital Advisors cut its stake in Celestica by 93.7% in Q3, selling 24,354 shares and leaving 1,640 shares valued at $404,000.
• Company insiders have been net sellers recently — including President Jason Phillips who sold 100,000 shares for $30.89 million — with insider sales totaling 297,923 shares (~$88.03 million) over the past 90 days and insiders now owning 0.52% of the stock.
• Analysts are broadly positive on Celestica, giving a consensus rating of "Moderate Buy" and an average price target of about $356.59, with several firms issuing Buy/Outperform or Strong-Buy ratings and targets up to $400.00.

Aptus Capital Advisors LLC trimmed its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 93.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,640 shares of the technology company's stock after selling 24,354 shares during the period. Aptus Capital Advisors LLC's holdings in Celestica were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. purchased a new stake in Celestica in the second quarter worth $328,000. Allianz Asset Management GmbH raised its stake in shares of Celestica by 7.3% in the third quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company's stock valued at $83,044,000 after buying an additional 22,863 shares during the period. Light Street Capital Management LLC purchased a new position in shares of Celestica during the 2nd quarter valued at $26,422,000. Spark Investment Management LLC grew its stake in shares of Celestica by 17.4% during the 3rd quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company's stock worth $6,643,000 after acquiring an additional 4,000 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Celestica by 2.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company's stock worth $22,356,000 after acquiring an additional 3,221 shares during the last quarter. Institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLS. Bank of America assumed coverage on Celestica in a research note on Wednesday, January 28th. They issued a "buy" rating and a $400.00 price objective on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Celestica in a research report on Monday, January 26th. Citigroup reduced their target price on shares of Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Zacks Research raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $400.00 price objective on shares of Celestica in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and an average target price of $356.59.

Celestica Stock Up 0.4%

Shares of NYSE CLS opened at $269.08 on Wednesday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The business has a 50-day simple moving average of $294.56 and a two-hundred day simple moving average of $286.33. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The company has a market cap of $30.96 billion, a P/E ratio of 37.48 and a beta of 1.88.

Insider Transactions at Celestica

In related news, insider Yann L. Etienvre sold 1,145 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Jason Phillips sold 100,000 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the sale, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This trade represents a 88.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is currently owned by corporate insiders.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company's service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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