Polar Asset Management Partners Inc. Cuts Stake in Celestica Inc. (NYSE:CLS)

Polar Asset Management Partners Inc. cut its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 55.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,612 shares of the technology company's stock after selling 8,388 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Celestica were worth $610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in shares of 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 purchasing an additional 214,872 shares during the period. Invst LLC grew its stake in shares of Celestica by 11.7% during the 4th quarter. Invst LLC now owns 11,243 shares of the technology company's stock worth $1,038,000 after purchasing an additional 1,174 shares during the period. Vise Technologies Inc. grew its stake in shares of Celestica by 100.9% during the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company's stock worth $4,113,000 after purchasing an additional 22,387 shares during the period. Castleark Management LLC acquired a new position in shares of Celestica during the 4th quarter worth $9,378,000. Finally, Tidal Investments LLC acquired a new position in shares of Celestica during the 4th quarter worth $495,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CLS. Barclays lowered their price target on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Celestica from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. CIBC lowered their price objective on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 15th. Finally, Wall Street Zen cut shares of Celestica from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.82.

Celestica Trading Down 0.8%

Shares of Celestica stock traded down $0.93 during mid-day trading on Friday, hitting $115.44. 4,389,875 shares of the stock were exchanged, compared to its average volume of 3,258,045. Celestica Inc. has a twelve month low of $40.25 and a twelve month high of $144.27. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 30.87 and a beta of 1.65. The company has a 50-day simple moving average of $92.64 and a 200 day simple moving average of $98.41. 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 released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period last year, the company earned $0.83 EPS. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. 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.