KADENSA CAPITAL Ltd Takes Position in Celestica, Inc. $CLS

Key Points

• KADENSA CAPITAL Ltd opened a new position in Celestica by buying 14,944 shares in Q3, valued at approximately $3.68 million.
• Wall Street sentiment is positive-to-cautious with an average rating of "Moderate Buy" and a consensus price target of $354.24 (2 Strong Buy, 15 Buy, 3 Hold).
• Company insiders have been net sellers recently, disposing of about 297,923 shares worth $88 million over the past 90 days, leaving insiders with roughly 0.52% ownership.

KADENSA CAPITAL Ltd bought a new position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,944 shares of the technology company's stock, valued at approximately $3,682,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pinney & Scofield Inc. lifted its stake in Celestica by 20.0% in the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company's stock worth $44,000 after acquiring an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock valued at $31,000 after acquiring an additional 37 shares in the last quarter. World Equity Group Inc. grew its stake in Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company's stock valued at $558,000 after acquiring an additional 38 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Celestica by 3.2% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company's stock valued at $398,000 after purchasing an additional 50 shares during the period. Finally, McIlrath & Eck LLC increased its holdings in shares of Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company's stock valued at $45,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Trading Down 0.4%

Shares of NYSE CLS opened at $263.83 on Monday. The business has a 50 day simple moving average of $292.58 and a 200 day simple moving average of $287.75. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of 36.75 and a beta of 1.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Celestica from $400.00 to $360.00 and set an "outperform" rating on the stock in a research note on Wednesday. Barclays increased their target price on shares of Celestica from $359.00 to $391.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Citigroup decreased their target price on shares of Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $400.00 price target on shares of Celestica in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $354.24.

Insider Buying and Selling at Celestica

In other news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the transaction, the president owned 108,970 shares in the company, valued at $30,894,084.70. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 1,145 shares of the firm's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The disclosure for this sale is available in the SEC filing. Insiders sold 297,923 shares of company stock worth $88,027,459 over the last ninety days. 0.52% of the stock is currently owned by insiders.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company's service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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