Broad Peak Investment Advisers Pte Ltd Makes New Investment in Celestica, Inc. (NYSE:CLS)

Broad Peak Investment Advisers Pte Ltd purchased a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the first quarter, according to its most recent filing with the SEC. The firm purchased 278,000 shares of the technology company's stock, valued at approximately $21,909,000. Celestica accounts for approximately 14.8% of Broad Peak Investment Advisers Pte Ltd's portfolio, making the stock its 3rd largest position. Broad Peak Investment Advisers Pte Ltd owned approximately 0.24% of Celestica at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in Celestica by 120.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,700 shares of the technology company's stock worth $1,474,000 after buying an additional 10,200 shares during the period. Envestnet Asset Management Inc. raised its holdings in Celestica by 9.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 144,083 shares of the technology company's stock worth $11,359,000 after buying an additional 12,279 shares during the period. Bank of New York Mellon Corp raised its holdings in Celestica by 22.3% during the 1st quarter. Bank of New York Mellon Corp now owns 121,467 shares of the technology company's stock worth $9,573,000 after buying an additional 22,120 shares during the period. World Investment Advisors acquired a new stake in Celestica during the 1st quarter worth approximately $249,000. Finally, Wayfinding Financial LLC acquired a new stake in Celestica during the 1st quarter worth approximately $84,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Celestica from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Barclays reissued an "overweight" rating and issued a $146.00 target price (up from $126.00) on shares of Celestica in a research note on Tuesday, June 10th. CIBC decreased their target price on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Celestica in a research report on Monday, April 28th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $116.64.

Celestica Stock Performance

Shares of Celestica stock traded down $1.95 during trading on Thursday, reaching $158.96. The company's stock had a trading volume of 3,056,000 shares, compared to its average volume of 3,401,212. The firm has a market cap of $18.28 billion, a PE ratio of 43.77 and a beta of 1.81. The business's 50-day moving average price is $124.97 and its 200-day moving average price is $107.96. Celestica, Inc. has a 52 week low of $40.25 and a 52 week high of $164.00. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.59.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.56 billion. Celestica had a return on equity of 25.57% and a net margin of 4.26%. Celestica's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Equities analysts forecast that Celestica, Inc. will post 4.35 earnings per share 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.