L & S Advisors Inc Cuts Holdings in Celestica, Inc. (NYSE:CLS)

Key Points

• L & S Advisors Inc has reduced its position in Celestica, Inc. by 37.5%, now holding 14,858 shares worth approximately $1.17 million.
• Several hedge funds have altered their positions in Celestica, with Mackenzie Financial Corp increasing its stake by 39.3% and FMR LLC boosting its holdings by 91.2%.
• The stock of Celestica has shown significant volatility, with a 12-month low of $40.25 and a high of $214.47, and currently has a market cap of $22.40 billion.

L & S Advisors Inc lessened its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 37.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,858 shares of the technology company's stock after selling 8,903 shares during the period. L & S Advisors Inc's holdings in Celestica were worth $1,171,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Consolidated Planning Corp purchased a new stake in shares of Celestica in the 1st quarter worth $3,361,000. Summerhill Capital Management lnc. bought a new position in Celestica in the first quarter worth approximately $2,283,000. Mackenzie Financial Corp boosted its position in Celestica by 39.3% during the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock valued at $70,164,000 after acquiring an additional 214,872 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Celestica during the 1st quarter worth $819,000. Finally, FMR LLC boosted its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CLS. CIBC lowered their price target 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. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. BMO Capital Markets restated an "outperform" rating and set a $130.00 target price (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Citigroup raised their price target on Celestica from $172.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Argus dropped their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $168.92.

Celestica Stock Performance

Shares of CLS stock traded down $0.10 on Thursday, hitting $198.53. The company had a trading volume of 2,121,003 shares, compared to its average volume of 4,412,641. Celestica, Inc. has a twelve month low of $40.65 and a twelve month high of $214.47. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. The firm has a market cap of $22.83 billion, a P/E ratio of 43.05 and a beta of 1.80. The company has a 50-day moving average price of $152.56 and a 200-day moving average price of $118.47.

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.