Cinctive Capital Management LP Takes Position in Celestica, Inc. $CLS

Key Points

• Cinctive Capital Management LP has acquired a new position in Celestica, purchasing 32,486 shares valued at approximately $2.56 million.
• Several institutional investors increased their stakes in Celestica during the first quarter, with 67.38% of the stock now owned by institutional investors.
• Analysts have shown optimism towards Celestica, with multiple upgrades in target prices, including Royal Bank Of Canada raising its target from $185 to $225.

Cinctive Capital Management LP acquired a new stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 32,486 shares of the technology company's stock, valued at approximately $2,560,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Clark Capital Management Group Inc. raised its position in shares of Celestica by 1.6% during the 1st quarter. Clark Capital Management Group Inc. now owns 615,622 shares of the technology company's stock valued at $48,517,000 after buying an additional 9,903 shares in the last quarter. Alliancebernstein L.P. raised its position in Celestica by 405.5% in the 1st quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company's stock worth $57,684,000 after purchasing an additional 587,145 shares during the period. Advisors Asset Management Inc. raised its position in Celestica by 43.2% in the 1st quarter. Advisors Asset Management Inc. now owns 75,732 shares of the technology company's stock worth $5,968,000 after purchasing an additional 22,842 shares during the period. Amundi raised its position in Celestica by 182,325.0% in the 1st quarter. Amundi now owns 51,079 shares of the technology company's stock worth $4,026,000 after purchasing an additional 51,051 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Celestica by 154.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 657,642 shares of the technology company's stock worth $51,829,000 after purchasing an additional 398,977 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Stock Up 1.9%

Celestica stock traded up $4.72 during trading hours on Wednesday, hitting $248.80. The stock had a trading volume of 2,098,439 shares, compared to its average volume of 4,258,066. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $28.62 billion, a P/E ratio of 53.45 and a beta of 1.89. Celestica, Inc. has a 12-month low of $42.76 and a 12-month high of $257.40. The stock's 50-day moving average price is $187.64 and its 200-day moving average price is $132.14.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued 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 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 business's revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. Equities research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 target price (up previously from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Celestica from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Canaccord Genuity Group raised their price target on shares of Celestica from $126.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Barclays raised their price target on shares of Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Celestica from $225.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $174.75.

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.