Celestica, Inc. (NYSE:CLS) Shares Sold by National Bank of Canada FI

Key Points

• The National Bank of Canada FI reduced its holdings in Celestica, Inc. by 5.9%, now owning approximately 0.32% of the company, worth $28.8 million after selling nearly 23,000 shares.
• Multiple hedge funds increased their positions in Celestica significantly during the fourth quarter, with Polar Capital Holdings boosting its stake by 822.6% to hold over 1.6 million shares.
• Wall Street analysts have varying ratings for Celestica, with a consensus rating of "Buy" and an average target price of $168.92, reflecting optimism about the company's growth potential.

National Bank of Canada FI decreased its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,425 shares of the technology company's stock after selling 22,982 shares during the period. National Bank of Canada FI owned about 0.32% of Celestica worth $28,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rothschild Investment LLC acquired a new position in Celestica in the 1st quarter valued at $26,000. ORG Partners LLC acquired a new position in Celestica in the 1st quarter valued at $29,000. Center for Financial Planning Inc. acquired a new position in Celestica in the 1st quarter valued at $30,000. Bessemer Group Inc. acquired a new position in Celestica in the 4th quarter valued at $42,000. Finally, Farther Finance Advisors LLC raised its stake in Celestica by 1,516.7% in the 1st quarter. Farther Finance Advisors LLC now owns 679 shares of the technology company's stock valued at $54,000 after purchasing an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Trading Up 4.4%

Shares of NYSE CLS traded up $8.94 during trading on Tuesday, hitting $213.54. 2,714,969 shares of the company were exchanged, compared to its average volume of 4,194,509. The company has a fifty day moving average price of $159.71 and a 200-day moving average price of $120.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44. The firm has a market capitalization of $24.56 billion, a PE ratio of 46.22 and a beta of 1.80. Celestica, Inc. has a 12-month low of $40.65 and a 12-month high of $214.47.

Wall Street Analysts Forecast Growth

CLS has been the subject of several recent research reports. BMO Capital Markets reissued an "outperform" rating and issued a $130.00 price objective (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Citigroup increased their price objective on Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their price objective on Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. BNP Paribas raised Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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.