Pinpoint Asset Management Ltd Purchases 15,598 Shares of Celestica, Inc. (NYSE:CLS)

Key Points

• Pinpoint Asset Management Ltd significantly increased its stake in Celestica, Inc. by 4,482.2% during Q1, acquiring an additional 15,598 shares, bringing its total to 15,946 shares valued at approximately $1.257 million.
• Several other institutional investors, including Consolidated Planning Corp and Summerhill Capital Management, also established new positions in Celestica, highlighting growing institutional interest in the company.
• Wall Street analysts have elevated their price targets for Celestica shares, with recommendations ranging from "neutral" to "strong buy", reflecting positive sentiment toward the company's outlook.

Pinpoint Asset Management Ltd lifted its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 4,482.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,946 shares of the technology company's stock after purchasing an additional 15,598 shares during the quarter. Pinpoint Asset Management Ltd's holdings in Celestica were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Consolidated Planning Corp bought a new stake in shares of Celestica during the 1st quarter valued at approximately $3,361,000. Summerhill Capital Management lnc. bought a new stake in Celestica during the 1st quarter worth approximately $2,283,000. Mackenzie Financial Corp grew its holdings in Celestica by 39.3% during the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock worth $70,164,000 after acquiring an additional 214,872 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Celestica in the 1st quarter valued at approximately $819,000. Finally, Symmetry Investments LP bought a new position in shares of Celestica during the fourth quarter valued at $3,757,000. 67.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CLS shares. Citigroup upped their price objective on shares of Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Canaccord Genuity Group upped their price objective on shares of Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed 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. Royal Bank Of Canada upped their price objective on shares of Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, UBS Group reiterated a "neutral" rating and set a $208.00 target price (up previously from $101.00) on shares of Celestica in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Celestica presently has a consensus rating of "Buy" and an average price target of $168.92.

Celestica Trading Up 1.2%

Shares of CLS opened at $198.89 on Thursday. The firm's 50 day simple moving average is $152.56 and its 200 day simple moving average is $118.47. The company has a market capitalization of $22.87 billion, a P/E ratio of 43.05 and a beta of 1.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86. Celestica, Inc. has a 1-year low of $40.65 and a 1-year high of $214.47.

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.

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