R Squared Ltd Acquires 2,410 Shares of Celestica, Inc. (NYSE:CLS)

Key Points

• R Squared Ltd significantly increased its stake in Celestica, Inc. by 438.2% during the first quarter, acquiring an additional 2,410 shares to hold a total of 2,960 shares valued at approximately $233,000.
• Several institutional investors, including Rothschild Investment LLC and Farther Finance Advisors LLC, also made new acquisitions in Celestica stock during the same period, contributing to institutional ownership of 67.38%.
• Analyst outlook for Celestica has become increasingly bullish, with Barclays raising their price target from $146.00 to $220.00 and multiple analysts giving the stock a “buy” rating.

R Squared Ltd grew its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 438.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,960 shares of the technology company's stock after acquiring an additional 2,410 shares during the quarter. R Squared Ltd's holdings in Celestica were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 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 worth $1,078,804,000 after purchasing an additional 5,574,342 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 worth $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 worth $271,622,000 after purchasing an additional 494,542 shares during the last quarter. 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 worth $200,601,000 after purchasing an additional 719,805 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its position in shares of Celestica by 822.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after purchasing an additional 1,433,681 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Celestica Price Performance

CLS stock traded down $6.85 during midday trading on Tuesday, hitting $194.60. The company's stock had a trading volume of 905,958 shares, compared to its average volume of 4,417,577. Celestica, Inc. has a 12 month low of $40.65 and a 12 month high of $214.47. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 42.14 and a beta of 1.80. The company has a 50 day moving average of $149.40 and a two-hundred day moving average of $117.36.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CLS shares. Argus lowered their price target on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Canaccord Genuity Group upped their price target on Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Citigroup upped their price target on Celestica from $172.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $130.00 price target (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Finally, BNP Paribas raised Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $168.92.

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.