Connor Clark & Lunn Investment Management Ltd. Sells 1,050,016 Shares of Celestica, Inc. (NYSE:CLS)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Celestica, Inc. by 41.6% during Q1, selling over 1 million shares and now owning about 1.27% of the company, valued at $116.31 million.
• Several institutional investors, including Rothschild Investment LLC and Farther Finance Advisors LLC, have recently acquired new stakes in Celestica, indicating growing interest from institutional players.
• Analysts' ratings on Celestica have improved, with Barclays increasing the price target from $146 to $220 and the stock now holding an average rating of "Buy" with a target price of approximately $168.92.

Connor Clark & Lunn Investment Management Ltd. decreased its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 41.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,474,182 shares of the technology company's stock after selling 1,050,016 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.27% of Celestica worth $116,311,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CLS. CoreCap Advisors LLC grew its position in Celestica by 5.4% during the 4th 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 boosted its position in 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 buying an additional 120 shares during the last quarter. Private Trust Co. NA boosted its position in 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 buying an additional 123 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of Celestica by 7.1% in the 1st quarter. Csenge Advisory Group now owns 2,593 shares of the technology company's stock valued at $218,000 after purchasing an additional 171 shares during the period. Finally, Bay Rivers Group lifted its stake in shares of Celestica by 1.1% in the 1st quarter. Bay Rivers Group now owns 19,494 shares of the technology company's stock valued at $1,536,000 after purchasing an additional 215 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Trading Down 1.4%

Shares of Celestica stock traded down $2.85 during trading on Monday, hitting $204.81. The company's stock had a trading volume of 2,750,612 shares, compared to its average volume of 4,152,340. 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 $23.56 billion, a price-to-earnings ratio of 44.33 and a beta of 1.80. The stock has a 50-day moving average price of $157.87 and a two-hundred day moving average price of $120.23. Celestica, Inc. has a 52 week low of $40.65 and a 52 week high of $214.47.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. BNP Paribas raised Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. Barclays lifted their target price on Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. CIBC lowered their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. Finally, Canaccord Genuity Group boosted their price objective on Celestica from $126.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Two research 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $168.92.

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.