Celestica, Inc. $CLS Shares Sold by World Investment Advisors

Key Points

• World Investment Advisors reduced its stake in Celestica, Inc. by 58.2% during the second quarter, selling 1,835 shares and leaving them with 1,319 shares valued at $206,000.
• Celestica reported quarterly earnings of $1.58 EPS, exceeding analysts' estimates, with revenues of $3.19 billion, a 27.8% increase year-over-year.
• Analyst ratings are largely positive, with a consensus price target of $325.13 and multiple firms setting target prices above $300.00.

World Investment Advisors cut its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 58.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,319 shares of the technology company's stock after selling 1,835 shares during the period. World Investment Advisors' holdings in Celestica were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. acquired a new position in Celestica during the second quarter valued at $37,000. Wolff Wiese Magana LLC lifted its position in Celestica by 45.6% during the second quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company's stock valued at $57,000 after purchasing an additional 114 shares during the period. Flaharty Asset Management LLC acquired a new position in Celestica during the first quarter valued at $63,000. Gordian Capital Singapore Pte Ltd lifted its position in Celestica by 8,910.0% during the first quarter. Gordian Capital Singapore Pte Ltd now owns 901 shares of the technology company's stock valued at $71,000 after purchasing an additional 891 shares during the period. Finally, Oakworth Capital Inc. acquired a new position in Celestica during the second quarter valued at $73,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on CLS shares. New Street Research set a $400.00 target price on shares of Celestica in a research report on Wednesday, October 29th. BNP Paribas reiterated an "outperform" rating and issued a $300.00 price objective on shares of Celestica in a research report on Thursday, September 25th. Stifel Nicolaus reiterated a "buy" rating and issued a $385.00 price objective (up previously from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. BMO Capital Markets set a $370.00 price objective on shares of Celestica and gave the stock an "outperform" rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Celestica in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Celestica has an average rating of "Moderate Buy" and a consensus price target of $325.13.

Celestica Stock Up 5.0%

CLS stock opened at $352.73 on Thursday. The company has a market cap of $40.58 billion, a price-to-earnings ratio of 57.26 and a beta of 1.88. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The firm has a 50-day moving average of $261.70 and a two-hundred day moving average of $185.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. Celestica's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laurette T. Koellner purchased 6,000 shares of the business's stock in a transaction dated Thursday, October 30th. The stock was acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director directly owned 6,000 shares of the company's stock, valued at approximately $2,050,020. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by corporate insiders.

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.

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