Hennessy Advisors Inc. Decreases Stock Holdings in Celestica Inc. (NYSE:CLS)

Hennessy Advisors Inc. cut its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,600 shares of the technology company's stock after selling 22,600 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.17% of Celestica worth $15,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CLS. Wealth Enhancement Advisory Services LLC raised its stake in shares of Celestica by 66.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,334 shares of the technology company's stock valued at $578,000 after acquiring an additional 2,941 shares during the last quarter. NewGen Asset Management Ltd bought a new stake in Celestica during the 1st quarter worth approximately $5,517,000. Assenagon Asset Management S.A. purchased a new stake in shares of Celestica in the 1st quarter valued at $415,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Celestica by 8.9% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 53,700 shares of the technology company's stock worth $4,232,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Celestica by 20.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 25,550 shares of the technology company's stock valued at $2,014,000 after purchasing an additional 4,320 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CLS shares. BMO Capital Markets reiterated an "outperform" rating and set a $130.00 price objective (up previously from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. CIBC decreased their price objective on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus boosted their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $116.64.

Celestica Price Performance

Celestica stock traded up $4.22 during mid-day trading on Tuesday, hitting $132.46. The stock had a trading volume of 2,889,612 shares, compared to its average volume of 3,302,074. The firm's 50 day moving average is $102.96 and its 200 day moving average is $101.52. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The firm has a market capitalization of $15.31 billion, a P/E ratio of 35.42 and a beta of 1.74. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings data on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm's revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts forecast that Celestica Inc. will post 4.35 earnings per share 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.