Celestica, Inc. (NYSE:CLS) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC significantly increased its stake in Celestica, Inc. by 165.4% in the first quarter, owning a total of 16,901 shares valued at approximately $1.33 million.
• Several institutional investors, including Swiss National Bank and Pinpoint Asset Management Ltd, also boosted their holdings in Celestica, contributing to a total institutional ownership of 67.38% of the company's stock.
• Celestica reported earnings of $1.39 per share for the most recent quarter, exceeding expectations, with revenue increasing by 21.0% year-over-year to $2.89 billion.

Townsquare Capital LLC lifted its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 165.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,901 shares of the technology company's stock after purchasing an additional 10,532 shares during the period. Townsquare Capital LLC's holdings in Celestica were worth $1,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLS. Rezny Wealth Management Inc. purchased a new position in Celestica during the 1st quarter valued at about $1,235,000. Forsta AP Fonden purchased a new position in Celestica during the 1st quarter valued at about $4,677,000. Swiss National Bank increased its holdings in Celestica by 43.6% during the 1st quarter. Swiss National Bank now owns 331,100 shares of the technology company's stock valued at $26,138,000 after acquiring an additional 100,500 shares in the last quarter. Pinpoint Asset Management Ltd increased its holdings in Celestica by 4,482.2% during the 1st quarter. Pinpoint Asset Management Ltd now owns 15,946 shares of the technology company's stock valued at $1,257,000 after acquiring an additional 15,598 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its holdings in Celestica by 9.3% during the 1st quarter. Neumeier Poma Investment Counsel LLC now owns 334,829 shares of the technology company's stock valued at $26,388,000 after acquiring an additional 28,569 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Price Performance

CLS opened at $204.41 on Thursday. The company's 50 day simple moving average is $161.40 and its 200 day simple moving average is $121.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44. Celestica, Inc. has a 1 year low of $40.65 and a 1 year high of $218.80. The stock has a market capitalization of $23.51 billion, a PE ratio of 44.24 and a beta of 1.80.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.65 billion. Celestica had a net margin of 5.11% and a return on equity of 28.23%. The company's quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that Celestica, Inc. will post 4.35 EPS for the current year.

Analysts Set New Price Targets

CLS has been the subject of several recent research reports. Wall Street Zen upgraded shares of Celestica from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group restated a "neutral" rating and set a $208.00 target price (up from $101.00) on shares of Celestica in a report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Argus lowered their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Citigroup lifted their price target on shares of Celestica from $172.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Two research 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 MarketBeat.com, Celestica presently has an average rating of "Buy" and a consensus target price of $168.92.

Celestica 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.

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