Allspring Global Investments Holdings LLC Trims Stock Holdings in Celestica, Inc. (NYSE:CLS)

Allspring Global Investments Holdings LLC trimmed its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 71.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 30,692 shares of the technology company's stock after selling 76,435 shares during the period. Allspring Global Investments Holdings LLC's holdings in Celestica were worth $2,419,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Consolidated Planning Corp acquired a new stake in Celestica in the first quarter valued at $3,361,000. Raymond James Financial Inc. acquired a new stake in shares of Celestica in the 4th quarter valued at about $47,685,000. Summerhill Capital Management lnc. bought a new position in Celestica in the 1st quarter valued at about $2,283,000. Mackenzie Financial Corp lifted its position in Celestica by 39.3% in the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock valued at $70,164,000 after acquiring an additional 214,872 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock valued at $20,217,000 after acquiring an additional 30,851 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CLS shares. CIBC dropped their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. Argus dropped their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Barclays reaffirmed an "overweight" rating and issued a $146.00 price target (up previously from $126.00) on shares of Celestica in a research report on Tuesday, June 10th. Wall Street Zen cut shares of Celestica from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 target price 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 given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $116.64.

Celestica Stock Performance

Shares of CLS stock traded up $4.68 during trading hours on Wednesday, hitting $160.38. 185,313 shares of the company were exchanged, compared to its average volume of 3,382,299. The firm has a fifty day simple moving average of $123.45 and a 200 day simple moving average of $107.59. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. Celestica, Inc. has a 52-week low of $40.25 and a 52-week high of $160.63. The stock has a market capitalization of $18.44 billion, a price-to-earnings ratio of 44.14 and a beta of 1.81.

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