Independent Advisor Alliance Has $2.78 Million Stake in Celestica, Inc. (NYSE:CLS)

Key Points

• Independent Advisor Alliance has increased its holdings in Celestica, Inc. by 19.2% during the first quarter, bringing their total to 35,283 shares valued at approximately $2.78 million.
• Several institutional investors, including Rothschild Investment LLC and ORG Partners LLC, have recently acquired new positions in Celestica, which now has 67.38% of its stock owned by institutional investors.
• Analysts remain bullish on Celestica with two strong buy ratings, ten buy ratings, and an average price target of $168.92, reflecting confidence in the company’s market performance.

Independent Advisor Alliance lifted its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 19.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,283 shares of the technology company's stock after buying an additional 5,695 shares during the period. Independent Advisor Alliance's holdings in Celestica were worth $2,781,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC bought a new position in shares of Celestica during the 1st quarter worth about $6,443,000. Sierra Summit Advisors LLC lifted its holdings in shares of Celestica by 17.6% during the 1st quarter. Sierra Summit Advisors LLC now owns 6,918 shares of the technology company's stock worth $545,000 after acquiring an additional 1,035 shares during the period. Cynosure Group LLC bought a new position in shares of Celestica during the 1st quarter worth about $335,000. Townsquare Capital LLC lifted its holdings in Celestica by 165.4% during the 1st quarter. Townsquare Capital LLC now owns 16,901 shares of the technology company's stock valued at $1,332,000 after purchasing an additional 10,532 shares during the last quarter. Finally, Rezny Wealth Management Inc. bought a new position in Celestica during the 1st quarter valued at about $1,235,000. Institutional investors own 67.38% of the company's stock.

Celestica Stock Down 0.5%

CLS traded down $0.98 during trading on Friday, reaching $195.66. The company had a trading volume of 2,182,778 shares, compared to its average volume of 4,370,064. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86. Celestica, Inc. has a 12 month low of $40.65 and a 12 month high of $218.80. The business's fifty day moving average price is $162.95 and its 200 day moving average price is $122.20. The company has a market cap of $22.51 billion, a P/E ratio of 42.35 and a beta of 1.80.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CLS shares. UBS Group reissued a "neutral" rating and set a $208.00 price target (up from $101.00) on shares of Celestica in a report on Wednesday, July 30th. Royal Bank Of Canada raised their price objective 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. BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Citigroup raised their price objective on shares of Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Canaccord Genuity Group lifted their price target on shares of Celestica from $126.00 to $240.00 and gave the stock a "buy" 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.com, the company presently has a consensus rating of "Buy" and a consensus price target of $168.92.

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.