Deutsche Bank AG Buys 132,160 Shares of Celestica, Inc. (NYSE:CLS)

Key Points

• Deutsche Bank AG significantly increased its stake in Celestica, raising its ownership by 616.4% to 153,602 shares valued at approximately $12.1 million.
• Celestica reported a strong quarterly performance with $1.39 earnings per share, exceeding expectations and reflecting a 21% increase in revenue year-over-year.
• Analysts have a consensus buy rating for Celestica, with varied price targets, including an increase from JPMorgan to $225.00.

Deutsche Bank AG raised its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 616.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 153,602 shares of the technology company's stock after acquiring an additional 132,160 shares during the period. Deutsche Bank AG owned approximately 0.13% of Celestica worth $12,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Consolidated Planning Corp bought a new position in Celestica during the 1st quarter valued at about $3,361,000. Summerhill Capital Management lnc. bought a new position in Celestica during the 1st quarter valued at about $2,283,000. Mackenzie Financial Corp increased its position in shares of Celestica by 39.3% during the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock valued at $70,164,000 after purchasing an additional 214,872 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Celestica during the 1st quarter valued at about $819,000. Finally, Symmetry Investments LP purchased a new stake in shares of Celestica during the 4th quarter valued at about $3,757,000. Institutional investors own 67.38% of the company's stock.

Celestica Trading Down 3.8%

CLS stock opened at $196.53 on Friday. Celestica, Inc. has a 1-year low of $40.65 and a 1-year high of $218.80. 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 company has a market capitalization of $22.61 billion, a price-to-earnings ratio of 42.54 and a beta of 1.80. The business has a 50 day simple moving average of $162.95 and a two-hundred day simple moving average of $122.20.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Celestica had a return on equity of 28.23% and a net margin of 5.11%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm's revenue for the quarter was up 21.0% compared to the same quarter last year. Research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CLS shares. Wall Street Zen raised shares of Celestica from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Argus reduced their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price target (up previously from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Celestica has a consensus 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.

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