Point72 Asset Management L.P. Decreases Stock Holdings in Celestica Inc. (NYSE:CLS)

Point72 Asset Management L.P. trimmed its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 94.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,070 shares of the technology company's stock after selling 1,020,652 shares during the quarter. Point72 Asset Management L.P. owned about 0.06% of Celestica worth $5,914,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CLS. FMR LLC raised its position in shares of Celestica by 91.2% in the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the last quarter. FIL Ltd raised its position in shares of 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 purchasing an additional 3,406,723 shares during the last quarter. Invesco Ltd. raised its position in shares of Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock valued at $271,622,000 after purchasing an additional 494,542 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Celestica by 49.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock valued at $200,601,000 after purchasing an additional 719,805 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Securities increased their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price target on shares of Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, Barclays reduced their price target on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Celestica has a consensus rating of "Moderate Buy" and an average target price of $109.55.

Celestica Price Performance

NYSE:CLS opened at $111.29 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 29.76 and a beta of 1.65. The company has a 50 day moving average price of $88.35 and a 200-day moving average price of $96.40. Celestica Inc. has a 1-year low of $40.25 and a 1-year high of $144.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $2.65 billion during 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 quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Equities research analysts forecast that Celestica Inc. will post 4.35 EPS 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.

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