TradeLink Capital LLC Grows Stake in Celestica, Inc. (NYSE:CLS)

Key Points

• TradeLink Capital LLC significantly increased its stake in Celestica, Inc. by 136% in Q1, now holding 6,329 shares valued at approximately $499,000.
• Institutional ownership of Celestica now stands at 67.38%, with several firms, such as Franklin Resources Inc., making substantial increases to their positions in the company during the fourth quarter.
• Analysts have raised their target prices for Celestica, with JPMorgan Chase & Co. adjusting theirs from $170 to $225, reflecting strong confidence in the stock's performance.

TradeLink Capital LLC lifted its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 136.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,329 shares of the technology company's stock after purchasing an additional 3,647 shares during the quarter. Celestica accounts for 3.1% of TradeLink Capital LLC's investment portfolio, making the stock its 11th largest holding. TradeLink Capital LLC's holdings in Celestica were worth $499,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC bought a new position in Celestica in the 1st quarter valued at $26,000. ORG Partners LLC bought a new position in Celestica in the 1st quarter worth about $29,000. Center for Financial Planning Inc. bought a new position in Celestica in the 1st quarter worth about $30,000. Pinpoint Asset Management Ltd boosted its position in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after acquiring an additional 182 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in shares of Celestica during the 4th quarter valued at about $42,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday. Argus dropped their target price on Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Royal Bank Of Canada boosted their target price on Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Citigroup boosted their target price on Celestica from $172.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $168.92.

Celestica Trading Down 2.5%

CLS stock traded down $5.02 during midday trading on Friday, hitting $194.84. The company had a trading volume of 4,540,278 shares, compared to its average volume of 3,943,369. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Celestica, Inc. has a 52 week low of $40.25 and a 52 week high of $214.47. The stock's 50 day moving average price is $147.75 and its 200 day moving average price is $116.70. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 42.17 and a beta of 1.80.

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.