Cetera Investment Advisers Increases Stock Position in Celestica, Inc. (NYSE:CLS)

Key Points

• Cetera Investment Advisers increased its stake in Celestica, Inc. by 32.8% in Q1, now holding a position valued at $2.70 million.
• Institutional investors own 67.38% of Celestica's stock, with notable increases in holdings from firms like Bank of Montreal and Invesco.
• Analysts have varied opinions on Celestica's stock, but there is a consensus average rating of "Buy" and a target price of $168.92.

Cetera Investment Advisers grew its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 32.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,260 shares of the technology company's stock after buying an additional 8,457 shares during the quarter. Cetera Investment Advisers' holdings in Celestica were worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC lifted its stake in Celestica by 5.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock worth $162,000 after acquiring an additional 90 shares during the last quarter. First National Bank of Hutchinson increased its position in shares of Celestica by 2.5% in the 1st quarter. First National Bank of Hutchinson now owns 4,914 shares of the technology company's stock valued at $387,000 after purchasing an additional 120 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Celestica by 14.1% in the 1st quarter. Private Trust Co. NA now owns 993 shares of the technology company's stock valued at $78,000 after purchasing an additional 123 shares in the last quarter. Csenge Advisory Group lifted its position in shares of Celestica by 7.1% during the 1st quarter. Csenge Advisory Group now owns 2,593 shares of the technology company's stock worth $218,000 after purchasing an additional 171 shares during the last quarter. Finally, Bay Rivers Group grew its stake in shares of Celestica by 1.1% during the first quarter. Bay Rivers Group now owns 19,494 shares of the technology company's stock worth $1,536,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Trading Up 3.4%

NYSE:CLS traded up $6.81 during mid-day trading on Friday, reaching $208.02. The company's stock had a trading volume of 3,021,753 shares, compared to its average volume of 4,410,027. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86. The stock has a market cap of $23.92 billion, a P/E ratio of 45.03 and a beta of 1.80. The company's fifty day simple moving average is $154.25 and its two-hundred day simple moving average is $119.07. Celestica, Inc. has a twelve month low of $40.65 and a twelve month high of $214.47.

Wall Street Analysts Forecast Growth

CLS has been the topic of several recent analyst reports. Barclays increased their target price on Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Citigroup raised their target price on shares of Celestica from $172.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Canaccord Genuity Group boosted their price target on Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Celestica from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price target (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target 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.