Celestica, Inc. (NYSE:CLS) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its holdings in Celestica, Inc. by 24.8% in the first quarter, selling 729,878 shares and holding a total of 2,212,938 shares.
• Analysts have shown increased confidence in Celestica, with several firms raising their ratings and price targets, including a boost from Citigroup to $212.00.
• Celestica's recent quarterly earnings report showed earnings per share (EPS) of $1.39, exceeding estimates and indicating a 21.0% increase in revenue year-over-year.

Invesco Ltd. reduced its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 24.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,212,938 shares of the technology company's stock after selling 729,878 shares during the quarter. Invesco Ltd. owned about 1.91% of Celestica worth $174,402,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc boosted 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 buying an additional 1,433,681 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Celestica by 799.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 802,227 shares of the technology company's stock valued at $74,044,000 after buying an additional 916,991 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock valued at $200,601,000 after buying an additional 719,805 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Celestica during the fourth quarter valued at approximately $51,043,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Celestica during the first quarter valued at approximately $30,156,000. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CLS has been the subject of several recent analyst reports. UBS Group restated a "neutral" rating and set a $208.00 target price (up previously from $101.00) on shares of Celestica in a research report on Wednesday, July 30th. BNP Paribas upgraded Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 price target (up previously from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Wall Street Zen upgraded Celestica from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Citigroup boosted their price target on Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Celestica currently has a consensus rating of "Buy" and a consensus target price of $168.92.

Celestica Stock Down 0.6%

CLS stock traded down $1.13 during midday trading on Friday, hitting $195.51. The company's stock had a trading volume of 2,428,296 shares, compared to its average volume of 4,351,083. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. Celestica, Inc. has a 52-week low of $40.65 and a 52-week high of $218.80. The firm has a market capitalization of $22.49 billion, a P/E ratio of 42.32 and a beta of 1.80. The firm has a 50-day simple moving average of $164.44 and a 200-day simple moving average of $123.06.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings data 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 during 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 revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. As a group, equities analysts forecast that Celestica, Inc. will post 4.35 EPS for the current 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.