E Fund Management Co. Ltd. Invests $662,000 in Celestica, Inc. (NYSE:CLS)

Key Points

• E Fund Management Co. Ltd. invested approximately $662,000 in Celestica, Inc. by acquiring 8,400 shares during the first quarter.
• Several institutional investors also increased their stakes in Celestica, leading to institutional ownership of 67.38% of the company's stock.
• Celestica's stock has received positive ratings, with analysts lifting their price targets, including JPMorgan raising it from $170.00 to $225.00 and Canaccord Genuity increasing it from $126.00 to $240.00.

E Fund Management Co. Ltd. acquired a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,400 shares of the technology company's stock, valued at approximately $662,000.

A number of other institutional investors also recently made changes to their positions in the company. Gulf International Bank UK Ltd bought a new stake in shares of Celestica during the first quarter worth approximately $534,000. Prudential PLC boosted its holdings in shares of Celestica by 29.6% during the first quarter. Prudential PLC now owns 33,481 shares of the technology company's stock worth $2,639,000 after acquiring an additional 7,640 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Celestica by 14.5% during the first quarter. HighTower Advisors LLC now owns 8,645 shares of the technology company's stock worth $681,000 after acquiring an additional 1,098 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Celestica by 19.2% during the first quarter. Independent Advisor Alliance now owns 35,283 shares of the technology company's stock worth $2,781,000 after acquiring an additional 5,695 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Celestica during the first quarter worth approximately $6,443,000. Institutional investors own 67.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CLS shares. JPMorgan Chase & Co. boosted their price objective on Celestica from $170.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. BNP Paribas upgraded Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. UBS Group reiterated a "neutral" rating and issued a $208.00 price target (up from $101.00) on shares of Celestica in a research report on Wednesday, July 30th. Canaccord Genuity Group lifted their price target on shares of Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada lifted 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Celestica currently has an average rating of "Buy" and a consensus target price of $168.92.

Celestica Stock Down 4.2%

Shares of CLS opened at $204.41 on Thursday. Celestica, Inc. has a one year low of $40.65 and a one year high of $218.80. The company has a market cap of $23.51 billion, a P/E ratio of 44.24 and a beta of 1.80. 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 firm has a 50 day simple moving average of $161.40 and a two-hundred day simple moving average of $121.45.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Monday, July 28th. The technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Celestica had a net margin of 5.11% and a return on equity of 28.23%. 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 previous year, the business earned $0.91 earnings per share. The company's revenue was up 21.0% on a year-over-year basis. Research analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

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.

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