Rezny Wealth Management Inc. Invests $1.24 Million in Celestica, Inc. (NYSE:CLS)

Key Points

• Rezny Wealth Management Inc. has made a new investment of approximately $1.24 million in Celestica, Inc., acquiring 15,666 shares during the first quarter.
• Analysts have raised their price targets for Celestica, with JPMorgan Chase increasing their target from $170.00 to $225.00, and Barclays from $146.00 to $220.00, reflecting strong confidence in the stock.
• As of the latest reports, Celestica's stock has a market capitalization of $23.11 billion and is currently trading at around $200.93 with a 1-year high of $214.47.

Rezny Wealth Management Inc. acquired a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,666 shares of the technology company's stock, valued at approximately $1,235,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLS. Polar Capital Holdings Plc grew its position in shares of Celestica by 822.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after acquiring an additional 1,433,681 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Celestica by 799.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 802,227 shares of the technology company's stock worth $74,044,000 after acquiring an additional 916,991 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock worth $200,601,000 after acquiring an additional 719,805 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Celestica during the fourth quarter worth approximately $51,043,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Celestica during the fourth quarter worth approximately $47,685,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CLS shares. Argus lowered their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price objective on shares of Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "neutral" rating and issued a $208.00 price objective (up from $101.00) on shares of Celestica in a research report on Wednesday, July 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 price objective (up from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Finally, 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 report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Celestica currently has a consensus rating of "Buy" and a consensus price target of $168.92.

Celestica Price Performance

Shares of NYSE CLS traded up $6.81 during trading on Friday, hitting $208.02. 3,021,753 shares of the company were exchanged, compared to its average volume of 4,110,359. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 45.03 and a beta of 1.80. Celestica, Inc. has a 1 year low of $40.65 and a 1 year high of $214.47. The firm's fifty day moving average price is $156.11 and its 200 day moving average price is $119.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86.

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.