Principal Financial Group Inc. Lowers Holdings in Celestica, Inc. (NYSE:CLS)

Principal Financial Group Inc. decreased its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 40.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,460 shares of the technology company's stock after selling 163,760 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Celestica worth $18,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Consolidated Planning Corp bought a new position in Celestica during the 1st quarter valued at about $3,361,000. Summerhill Capital Management lnc. bought a new position in shares of Celestica in the 1st quarter worth approximately $2,283,000. Mackenzie Financial Corp lifted its stake in shares of Celestica by 39.3% in 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. American Century Companies Inc. lifted its stake in shares of Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock worth $20,217,000 after purchasing an additional 30,851 shares during the period. Finally, FMR LLC lifted its stake 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 worth $1,078,804,000 after purchasing an additional 5,574,342 shares during the period. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CLS shares. Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 price target on shares of Celestica in a report on Monday, April 28th. Wall Street Zen lowered shares of Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Celestica from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, April 28th. BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price objective (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Celestica currently has a consensus rating of "Buy" and an average price target of $116.64.

Celestica Trading Up 1.4%

CLS traded up $2.25 on Friday, hitting $161.08. The company had a trading volume of 2,183,425 shares, compared to its average volume of 3,404,065. The company has a market cap of $18.52 billion, a PE ratio of 44.37 and a beta of 1.81. Celestica, Inc. has a 12-month low of $40.25 and a 12-month high of $163.95. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.59. The business's fifty day simple moving average is $126.36 and its 200 day simple moving average is $108.39.

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

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.