Harvest Fund Management Co. Ltd Cuts Stake in Celestica, Inc. (NYSE:CLS)

Key Points

• Harvest Fund Management Co. Ltd reduced its holdings in Celestica, Inc. by 83.8%, selling 28,711 shares and leaving them with 5,530 shares valued at approximately $436,000.
• Multiple hedge funds made changes to their positions in Celestica, with significant stakes acquired by Consolidated Planning Corp and Summerhill Capital Management during the first quarter.
• Analyst ratings for Celestica show a consensus rating of "Moderate Buy" with a target price of $168.92, indicating varied outlooks with some analysts upgrading and others downgrading their price objectives.

Harvest Fund Management Co. Ltd lessened its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 83.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,530 shares of the technology company's stock after selling 28,711 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Celestica were worth $436,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Celestica during the 1st quarter valued at $26,000. Pinpoint Asset Management Ltd lifted its stake in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after purchasing an additional 182 shares during the period. ORG Partners LLC acquired a new stake in shares of Celestica during the first quarter worth $29,000. Center for Financial Planning Inc. acquired a new stake in shares of Celestica during the first quarter worth $30,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Celestica during the fourth quarter worth $42,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Trading Down 2.5%

Shares of CLS traded down $5.02 during trading hours on Friday, hitting $194.84. The stock had a trading volume of 4,540,278 shares, compared to its average volume of 4,457,379. The company's fifty day simple moving average is $144.61 and its 200 day simple moving average is $115.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.44. Celestica, Inc. has a 12-month low of $40.25 and a 12-month high of $214.47. The firm has a market cap of $22.41 billion, a P/E ratio of 42.17 and a beta of 1.81.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CLS shares. BNP Paribas upgraded Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. BMO Capital Markets restated an "outperform" rating and set a $130.00 price objective (up previously from $118.00) on shares of Celestica in a report on Thursday, May 22nd. UBS Group restated a "neutral" rating and set a $208.00 price objective (up previously from $101.00) on shares of Celestica in a report on Wednesday. Wall Street Zen cut Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group raised their price objective on Celestica from $126.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.