NewGen Asset Management Ltd Purchases Shares of 70,000 Celestica Inc. (NYSE:CLS)

NewGen Asset Management Ltd acquired a new stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 70,000 shares of the technology company's stock, valued at approximately $5,517,000. Celestica accounts for approximately 3.6% of NewGen Asset Management Ltd's holdings, making the stock its 10th largest position. NewGen Asset Management Ltd owned about 0.06% of Celestica as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CLS. Rothschild Investment LLC purchased a new position in Celestica during the 1st quarter valued at about $26,000. Peregrine Capital Management LLC purchased a new position in Celestica in the 4th quarter worth $30,000. Pinpoint Asset Management Ltd raised its stake in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after purchasing an additional 182 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Celestica during the 4th quarter valued at approximately $42,000. Finally, Farther Finance Advisors LLC lifted its position in Celestica by 1,516.7% during the first 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 period. 67.38% of the stock is currently owned by institutional investors.

Celestica Trading Down 4.2%

Celestica stock traded down $5.55 during mid-day trading on Friday, hitting $125.18. The stock had a trading volume of 2,716,202 shares, compared to its average volume of 3,297,785. The stock has a 50-day simple moving average of $101.77 and a two-hundred day simple moving average of $100.97. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27. The stock has a market capitalization of $14.47 billion, a PE ratio of 33.47 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 announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The business's revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that Celestica Inc. will post 4.35 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on CLS shares. Argus cut their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price objective on shares of Celestica in a report on Monday, April 28th. Stifel Nicolaus upped their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Barclays reaffirmed an "overweight" rating and issued a $146.00 price target (up from $126.00) on shares of Celestica in a report on Tuesday. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 price target (up previously from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $116.64.

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.