Oppenheimer & Co. Inc. Sells 12,565 Shares of Celestica, Inc. (NYSE:CLS)

Oppenheimer & Co. Inc. lowered its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 76.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,885 shares of the technology company's stock after selling 12,565 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Celestica were worth $306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of 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 buying an additional 5,574,342 shares during the last quarter. FIL Ltd increased its position in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock valued at $319,662,000 after acquiring an additional 3,406,723 shares during the period. Norges Bank bought a new stake in Celestica during the 4th quarter valued at $139,008,000. Polar Capital Holdings Plc raised its stake in Celestica by 822.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after acquiring an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after acquiring an additional 1,401,877 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays reiterated an "overweight" rating and issued a $146.00 price objective (up from $126.00) on shares of Celestica in a report on Tuesday, June 10th. CIBC decreased their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $120.00 target price on shares of Celestica in a report on Monday, April 28th. BMO Capital Markets reissued an "outperform" rating and issued a $130.00 target price (up from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Finally, Argus reduced their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $116.64.

Celestica Stock Up 3.7%

Shares of Celestica stock traded up $5.66 on Friday, hitting $160.56. 2,227,845 shares of the company traded hands, compared to its average volume of 3,378,211. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.59. Celestica, Inc. has a 12-month low of $40.25 and a 12-month high of $160.63. The company has a 50-day moving average price of $120.75 and a 200 day moving average price of $106.65. The company has a market cap of $18.46 billion, a PE ratio of 44.23 and a beta of 1.81.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. Celestica had a return on equity of 25.57% and a net margin of 4.26%. The business's revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Sell-side analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current year.

Celestica 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.