Castleark Management LLC Takes Position in Celestica Inc. (NYSE:CLS)

Castleark Management LLC acquired a new position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 101,600 shares of the technology company's stock, valued at approximately $9,378,000. Castleark Management LLC owned approximately 0.09% of Celestica at the end of the most recent quarter.

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

Analyst Ratings Changes

CLS has been the subject of a number of recent research reports. Barclays lowered their target price on Celestica from $157.00 to $126.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. CIBC decreased their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 15th. Argus lowered their target price on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Celestica from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Celestica Stock Up 1.1%

Shares of Celestica stock traded up $1.29 during trading on Friday, hitting $119.61. 2,907,554 shares of the stock traded hands, compared to its average volume of 3,235,595. The stock has a market cap of $13.83 billion, a P/E ratio of 31.98 and a beta of 1.65. The company has a fifty day moving average price of $90.49 and a two-hundred day moving average price of $97.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a twelve month low of $40.25 and a twelve month high of $144.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. Equities research analysts predict that Celestica Inc. will post 4.35 EPS for the current fiscal year.

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.