Bank of Nova Scotia Grows Stake in Celestica, Inc. (NYSE:CLS)

Key Points

• Bank of Nova Scotia significantly increased its holdings in Celestica, acquiring 168,056 additional shares, representing a 4,222.5% increase, and bringing its total to 172,036 shares valued at approximately $13.57 million.
• Institutional investors now own about 67.38% of Celestica's stock, with other funds also boosting their positions in the first quarter.
• Wall Street analysts have mixed ratings, with a consensus 'Buy' rating and price targets ranging from $120.00 to $240.00, reflecting varying growth expectations for the company.

Bank of Nova Scotia increased its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 4,222.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,036 shares of the technology company's stock after acquiring an additional 168,056 shares during the quarter. Bank of Nova Scotia owned approximately 0.15% of Celestica worth $13,573,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. FMR LLC raised its holdings in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares during the last quarter. FIL Ltd raised its stake in shares of Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after purchasing an additional 3,406,723 shares during the last quarter. Invesco Ltd. boosted its holdings in Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after acquiring an additional 494,542 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock worth $200,601,000 after purchasing an additional 719,805 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its position in shares of Celestica by 822.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after acquiring an additional 1,433,681 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Trading Down 0.1%

NYSE:CLS traded down $0.10 during trading hours on Thursday, reaching $198.53. The company's stock had a trading volume of 2,121,003 shares, compared to its average volume of 4,412,641. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44. The firm has a market capitalization of $22.83 billion, a price-to-earnings ratio of 43.05 and a beta of 1.80. The firm has a 50-day simple moving average of $152.56 and a 200-day simple moving average of $118.47. Celestica, Inc. has a 1 year low of $40.65 and a 1 year high of $214.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CLS shares. CIBC reduced their target price on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 15th. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. raised their target price on Celestica from $170.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. UBS Group reissued a "neutral" rating and issued a $208.00 price target (up from $101.00) on shares of Celestica in a report on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price objective (up previously from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $168.92.

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.